Property boom: The total consideration of residential flat sale and purchase pacts in November soared 260.3% to $70.1 billion.

November saw 15,759 residential flat sale and purchase pacts registered, up 121.8% on a year earlier, with the total consideration soaring 260.3% to $70.1 billion, the Land Registry says.

According to the latest land registration statistics the total number of building unit sale and purchase agreements registered last month was 18,105, up 36.9% on October and 112% on last year.

Using a 12-month moving average the figure represents a rise of 7.4% on October and 44.5% on a year earlier.

The total consideration of these agreements surged 60.6% over October and 213.8% on last year to $81.4 billion.

Of the 18,105 agreements, 15,759 were for residential units, up 39.8% over October and 121.8% on a year earlier. The total consideration was $70.1 billion, up 60% over October and 260.3% on last year.