The number of registrations lodged at the Land Registry is down 13.9% annually despite the market recovering from a September slump last month.

The Land Registry’s Price Paid data shows there were 86,354 transactions registered across England and Wales in October.

This was up 3.9% on a monthly basis and an improvement on the 2.2% decline recorded between August and September.

However, the figure is down 13.9% from the 100,330 registrations recorded in October 2018.

The latest data may be revised as there is a time lag between a sale and it being registered.

Of the sales received for registration, 28,681 took place in October, of which 591 were for £1m or more.

There were 347 sales worth £1m or more in London, nine in Manchester and one in the west midlands.

The most expensive residential property sold was in Merton, greater London, for £9m, while the cheapest was for £15,000 in Sunderland.