MONDAY, JANUARY 14, 1985
SALES ACTIVITY ON FLATS RISES *****
THE NUMBER OF SALE AGREEMENTS ON FLATS INCREASED BY MORE THAN 20 PER CENT LAST YEAR, THE REGISTRAR GENERAL, MR NOEL GLEESON, REPORTED TODAY.
IN ALL, 29 959 SUCH AGREEMENTS WERE REGISTERED, AN INCREASE OF 22.6 PER CENT OVER THE PREVIOUS YEAR, HE SAID.
DURING THE YEAR, 52 358 ASSIGNMENTS OF FLATS WERE REGISTERED, COMPARED WITH 48 264 IN 1983. A TOTAL OF 9 932 ASSIGNMENTS OF FLATS WERE COMPLETED BY THE LAND OFFICE OF THE REGISTRAR GENERAL'> DEPARTMENT ON BEHALF OF THE HOUSING AUTHORITY UNDER THE GOVERNMENT'S HOME OWNERSHIP SCHEME, COMPARED WITH 8 847 IN 1983.
THERE WERE 418 ASSIGNMENTS OF LOTS AND SECTIONS, 6.7 PER CENT LESS THAN IN 1983. THE TOTAL VALUE OF CONSIDERATIONS IN ASSIGNMENTS OF LOTS AND SECTIONS DECLINED BY 54.5 PER CENT FROM $4.782 BILLION IN 1983 TO $2.174 BILLION LAST YEAR, WHILE THAT FOR THE ASSIGNMENT OF FLATS DROPPED BY 6.6 PER CENT FROM $23.956 BILLION TO $22.379 BILLION.
FORTY-SIX BUILDING MORTGAGES AND 43 857 OTHER MORTGAGES WERE REGISTERED, DOWN FROM 54 AND UP FROM 41 022 RESPECTIVELY IN THE PREVIOUS YEAR. THE TOTAL AMOUNT SECURED UNDER BUILDING MORTGAGES REGISTERED DURING THE YEAR FELL BY 53 PER CENT, FROM $0.608 BILLION TO $0.286 BILLION. THE AMOUNT SECURED UNDER MORTGAGES OTHER THAN BUILDING MORTGAGES FELL BY 62.2 PER CENT, FROM $40.615 BILLION TO $15.363 BILLION.
REPAYMENTS UNDER MORTGAGES OF ALL KINDS, AS EVIDENCED BY REASSIGNMENTS AND CERTIFICATES OF SATISFACTION, WERE UP BY 19 PER CENT, FROM $12.255 BILLION IN 1983 TO $14.586 BILLION IN 1984.
SEARCHES IN THE LAND OFFICE BY MEMBERS OF THE PUBLIC REACHED AN ALL-TIME HIGH OF 714 657, UP BY 11.5 PER CENT.
BUT MR GLEESON CAUTIONED THAT THE VARIOUS FIGURES CITED DID NOT INCLUDE TRANSACTIONS IN THE NEW TERRITORIES AND THUS DID NOT COVER THE TOTAL PROPERTY MARKET.
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OF THE EIGHT NEW TERRITORIES DISTRICT LAND REGISTRIES, FOUR HAD BEEN TAKEN OVER BY THE REGISTRAR GENERAL'S DEPARTMENT. IT MAS INTENDED THAT THE DEPARTMENT WOULD TAKE OVER THE REST BY STAGES, HE SAID.
/SIGNIFICANT