The property market bounced back at the turn of the year but registrations are still down annually.

Land Registry figures show it received 92,818 registrations for residential transactions in January 2019, up 11.4% on December 2018, but the figures are down 14.7% compared with the same month last year.

There is a time lag between a sale and its registration, but the Land Registry said 24,531 of the documents received were for sales that took place in January this year.

There were 480 sales of £1m properties in England and Wales during the month, with most, 282, in London, four in the west midlands and three in Manchester.

The most expensive residential sale taking place in January 2019 was of a terraced property in Kensington and Chelsea for £12.65m, while the cheapest was a terraced property in Spennymoor, County Durham for £17,000.