December saw 5,437 flat sale and purchase agreements received for registration, up 43.6% on November but down 65.1% on a year earlier, the Land Registry says.

Using a 12-month moving average, the figure for December represented an 8.2% drop on November and a 22.2% dip on December 2007. Total consideration was $20.5 billion, up 92.7% on November but down 68.2% on a year earlier.

Of the sale and purchase pacts, 4,706 were for residential units, up 44.2% on November but down 65.1% on December 2007. The total consideration was $17.7 billion, up 96.1% on November but down 66.4% on a year earlier.