Powys saw the biggest percentage increase in property applications to the Land Registry last year, according to data analysis by an independent law firm.
The Mid Wales county saw a 25.2% increase in applications as the volume of property purchases rocketed in the region, by comparison to the rest of England and Wales.
Other rural local authorities also saw a spike in applications, with Malvern Hills, on the border between Herefordshire and Worcestershire, making it into the top 10 risers with a 5.9% increase in applications.
Powys was followed by Bedford (+17.3%), Hounslow in West London (+11.2%) and Oadby and Wigston in Leicestershire (+11.1%).
Taylor Rose, one of the largest conveyancing law firms in England and Wales, has analysed Land Registry applications between 2023 and 2024.
Its Property Transaction Pulse Report found that the authorities of central London also fared well, with the City of London coming in fifth, with a 9.2% increase in applications, and the City of Westminster in eighth place, with a 6.4% rise.
Overall, the volume of applications went down by 3.4% from 4.3 million to 4.2 million, owing to higher mortgage rates and economic uncertainty, which dampened property transactions, it said. Taylor Rose’s analysis covers all applications relating to properties changing hands or newly registered properties, rather than applications for searches or official copies of documents.
However, the property market has seen positive signs of activity in the first quarter of this year. Taylor Rose has seen a 94% increase in conveyancing instructions – the point when a buyer moves forward with the purchase agreement of a property – in January and February 2025 compared to the same period last year.
Ruben Perin, Commercial Director, Residential Property Law at Taylor Rose, said:
“The positive performance, reflected in the recent data, underscores how both rural and urban markets are attracting motivated buyers and driving robust property activity. Despite market challenges, regions like Powys, Bedford and other standout areas such as Hounslow are proving that pockets of opportunity remain vibrant. This surge, along with significant increases in other regions, signals strong buyer confidence and highlights clear opportunities, as the housing market continues to grow despite broader economic challenges.”
