March saw 10,993 flat sale and purchase agreements, down 23.6% on February, but up 16.1% on the same month last year, the Land Registry says.

Using a 12-month moving average, the figure for March represented a 1% rise on February and 52.8% growth year on year.

The total consideration of these agreements in the month was $44 billion, down 15.3% on February but up 37.4% on March last year.

Of the 10,993 sale and purchase pacts 9,550 were for residential units, down 24.1% on February, but up 18.8% year on year.

The total consideration of these agreements in the month was $37.4 billion, down 14.4% on February, but up 48.6% compared with last March.