24. Despite the slight decrease in the number of assignments the total of the considerations mentioned therein jumped by over $1,025m. (40.4%) to $3,563m., of which $1,955m., represents the total considera- tions in assignments of undivided shares. Dividing this last total by 24,461, the number of units affected by the 23,292 assignments of undivided shares, one gets an average consideration of about $79,900 for transactions of this type as against $66,400 in the previous year and $47,100 in the year before last. This increase is no doubt largely due to increases in land value and building costs, coupled with the continuing high demand for accommodation of all types.
25. The number of mortgages rose from 16,900 in 1970-71 to 18,251, including 153 building mortgages. The grand total of mortgage considerations increased to $2,117m., 14.9% over last year's total of $1,843m. The figure included $224m. in respect of the 153 building mortgages, which therefore averaged about $1.46m. each. The number of re-assignments rose by 615 (5.8%) to the new record figure of 11,145, but the relevant considerations dropped by $11.46m. (1.1%) to $999m., surpassed only by last year's record figure.
26. The only other items in Tables V and VI that call for special mention are the big jump in the number of Agreements for Sale and Purchase from 10,206 to 14,441, reflecting the increase in the number of new building projects commenced; the substantial rise from 134 to 200 in the number of Exclusion Orders made under section 38 of the Landlord and Tenant Ordinance; the increase from 102 to 189 in the number of Re-development Notices served under section 3 of the Demolished Buildings (Re-development of Sites) Ordinance; and the grand total of considerations in all instruments, which was up by 24.1% from $5,397m. last year to $6,697m., yet another new record.
27. All instruments relating to flats and other units in new multi- storey buildings are registered on cards in accordance with the new card registration system described in the 1965-66 Report. This system was so successful that it was decided to transfer all the records now contained in the old type bound registers on to cards. Since the maximum benefit of the new system is obtained in the case of sub- divided multi-storey buildings, the existing subdivision registers relating to such buildings were dealt with first, and by 31st March 1968 the records in all of the 198 subdivision registers had been transferred to cards. The old registers relating to lots, sections and subsections
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