First registrations

Using Land Registry’s Property Gazetteer as a guide, it has beenestimated that around 4.5 million freehold first registrations remain to be lodged. Regrettably, there is no way of estimating the number of leasehold first registrations remaining.

The last five financial years have seen a decline in the number of compulsory first registrations lodged. This downward trend is approximately 32 per cent over four years, or 8 per cent per year. Using this 8 per cent decay figure would give the following approximation for compulsory first registration applications over the next nine years.

These figures have not been adjusted to account for the potential effect of new triggers proposed to be introduced in 2009, which could lead to between 6,500 and 29,000 additional compulsoryapplications for first registration being lodged for registration each year from 2009.

Land Registry is hoping to achieve a comprehensive register within the next 10 years. The number of voluntary first registration applications lodged at Land Registry has increased from approximately 23,000 each year in 2002/3 (the start of the register development project) to approximately 110,000 each year in 2006/7.

It would be a reasonable assumption that intakes of voluntary first registrations will stabilise at their current levels for the next few years, although some decline is to be expected as time goes on because as the amount of land already registered increases, the available land for registration reduces. The introduction of the new triggers may also take some estates out of the voluntary arena and into the compulsory arena.