The fall in residential sales in this quarter is largely considered to be short-term, driven by higher gas prices and food prices.
Stamp duty did not apply at all to a quarter of residential property transactions, including on homes up to a certain price in deprived areas, said the spokesman.
Demand from both manufacturing and non-residential customers improved in the quarter, which is a welcome sign after a long streak of declines.
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The slowdown in starts contributed to a 9.8% decline in residential investment in second-quarter GDP data, subtracting 0.5 a percentage point from GDP growth.
The federation said the flow of residential approvals during the second quarter of 2011 "resumed its negative trend" in the UK as a whole, after a brief pick-up at the beginning of the year.
Nine out of 14 residential land transactions in the first quarter of this year sold at an average premium over the sales price of a whopping 30.39%.
We expect the drag from residential investment to continue in the first quarter, but with less impact on GDP than in the second half of 2006.
The UK-wide figures, which were compiled by construction research body Glenigan, indicated a total of 29, 100 residential units were approved during the second quarter of 2011.
The report released by GTM Research and the Solar Energy Industries Association, a trade group, noted the growth between the first and second quarters of this year was particularly impressive given that there was a rush to install solar panels on residential and commercial rooftops by the first quarter as developers feared a key federal incentive would soon expire.
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Residential investment grew by 15.3 percent last quarter and has increased for seven consecutive quarters, the longest streak since 2004-2005.
WHITEHOUSE: Advance Estimate of GDP for the Fourth Quarter of 2012
Residential investment increased by 14.4 percent last quarter and has increased for six quarters in a row, its longest streak since 2004-2005.
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Between the second quarter of 2009 and the first quarter of 2012, prices for prime residential properties outside the main tourist areas dropped an average 20%.
We think residential investment will subtract from GDP again in the second quarter.
The latest example of strength in residential real estate is Lennar, which posted solid fourth quarter earnings on Tuesday.
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Overall, residential real estate prices soared 68% in the first quarter of the year, compared to the corresponding period last year.
In the third quarter, we expect a sharper decline in residential investment (perhaps -15% annualized), causing a negative contribution that outweighs the growth from commercial construction.
In 2012, the average premium rate of residential land was around 8.9% in the second quarter, 15.08% in the third and 22.33% in the fourth.
Singapore's private-residential property price index rose 1.8% in the fourth quarter of 2012 from the third quarter to a record 211.9 points, the third straight quarter of growth.
In the first quarter, the rate of rental-revenue growth at Equity Residential and AvalonBay slowed compared with previous quarters.
Yingli Green Energy, just off a scorching fourth quarter in which it was the top seller of commercial and residential solar panels in California, is taking its show to the East Coast.
One danger many foresee is that of a "Disneyfication" of New Orleans where the money gets spent on the tourist French Quarter - which wasn't damaged anyway - while the residential, poorer parts get ignored.
In the first quarter of 2012, Portland collected just under 13, 000 tons of residential garbage, down from 23, 000 tons during the year-earlier period.
While Singapore's official government residential-property indexes show that prices edged up in the city-state last quarter from the quarter before, property consulting company CBRE Group Inc.
Meanwhile, BlackRock's allocation at quarter end was 13.9% corporate bonds and 29.5% residential mortgage backed securities, among others.
One of the most active investors in the quarter was TIAA-CREF, which bought a 70% stake in the residential potion of the MiMA at 460 West 42nd Street.
Residential construction was 6.3% of GDP at its recent peak in the fourth quarter of 2005, but fell to 2.4% at its low in the first quarter of 2010.
Set up in the 1830s as a residential area for those who did not want to associate with the Europeans living in the French Quarter, the land parcels were large, the money used to fund the buildings was new, and each white-columned mansion was built to outdo the one before it.
While the number underwater mortgages has been declining, it is still fairly large, at 22.3% of all residential properties with mortgages, or 10.8 million units as of the end of the second quarter, according to CoreLogic.
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The anemic 0.4% GDP growth in the fourth quarter of 2012 would have been even worse without a 17.6% surge in real residential fixed investment.
The housing market advanced as residential fixed investment, which includes spending on home improvements, grew by 15.3% in the fourth quarter.
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