Residential property transactions saw a noticeable uplift in July, signalling renewed momentum in the housing market over the summer period.
The latest HMRC data revealed both annual and monthly increases in residential activity. The provisional seasonally adjusted estimate for UK residential transactions stood at 95,580 — up 4% year-on-year and 1% higher than in June 2025.
On a non-seasonally adjusted basis, the total reached 101,070 transactions, also marking a 4% increase from July 2024 and a 5% rise month-on-month.
In contrast, the non-residential property sector remained more subdued, showing only modest changes in transaction volumes.
Industry reaction:
Jonathan Handford, managing director at Fine & Country: “Another monthly uptick in property sales shows that buyer demand remains steady, and sellers are willing to adapt to price sensitivity by adjusting their expectations to close deals.
“There have been some recent reductions in mortgage rates, but conditions remain fluid, and further declines aren’t guaranteed.
“There is a healthy supply of stock across most parts of the UK, giving buyers the opportunity to shop around for their ideal home without having to compromise.
“We may see a ‘wait-and-see’ trend emerge among sellers who are uncertain about potential property tax changes in the autumn budget. However, this could also spur activity, particularly in the prime market, as sellers of high-value homes become more flexible on their asking price.
“Even speculation alone can delay decision-making and dampen short-term activity.
“As we head into the tail end of the year, we typically see a rush to buy as movers look to settle before Christmas and colder weather sets in. While economic policy may temper that seasonal pattern, the outlook for now remains robust.”
Jason Tebb, President of OnTheMarket: “July saw transaction numbers continue to recover following the dip in activity after the end of the stamp duty holiday as buyers brought forward purchases in order to take advantage of tax savings.
Once again, these figures suggests that the housing market remains remarkably resilient, despite wider economic and political concerns. Five interest rate reductions in the past year have provided much needed-stimulus to the market, boosting confidence and activity.
Further rate cuts would be particularly welcome as we head into autumn, encouraging buyers and sellers to transact at a time when there is much speculation surrounding the Budget and what it might contain for the property market. Any government efforts to help make the home-buying journey more accessible and affordable are welcome but any changes must work for the whole market.”
Iain McKenzie, CEO of The Guild of Property Professionals: “HMRC’s data confirms that the housing market continues to regain momentum, with July transactions up both month-on-month and year-on-year, and volumes now firmly on track to reach 1.1 million in 2025. This steady recovery reflects renewed confidence among buyers and sellers, supported by the recent interest rate cut and improving mortgage approval figures.
“While affordability pressures remain, with inflation still elevated and mortgage rates showing only limited relief, the direction of travel is encouraging. We’re seeing solid levels of activity across the market, underpinned by a wider choice of homes for sale and buyers who are increasingly motivated by greater stability in borrowing costs.
“Looking ahead, we expect this positive momentum to carry into the remainder of the year, albeit tempered by price sensitivity and a softer economic backdrop. Overall, 2025 is shaping up to be a year of steady recovery for the housing market, and today’s figures reinforce that the foundations are firmly in place for continued stability.”
Neil Knight, divisional director at Spicerhaart Part Exchange and Group Clients: “Further uplift in residential property transactions adds to the growing momentum we have seen in recent months. This upward trend is a clear sign that buyers have real confidence to push ahead with plans – buoyed by action and innovation from lenders, as well as increasing support from new build developers to facilitate purchases.
“While some mortgage rates may have crept up slightly in the last week, there’s no doubt that pre-emptive movement from lenders ahead of the August base rate cut certainly piqued the interest of some of those looking to move or buy.
“From our perspective, new build pipelines are certainly looking healthy as developers continue to read the room and come forward with schemes and incentives to help overcome any obstacles for potential buyers.
“The likes of part exchange and assisted move schemes are becoming increasingly prevalent among developers and used by customers to streamline the sales process. Alongside first-time buyers, it’s great to see avenues for those already in properties as their activity is key in facilitating other moves across the market.”
Jeremy Leaf, north London estate agent: “Interestingly, these resilient transaction numbers reflect what we have been seeing in our offices – buyers and sellers are negotiating hard but the overwhelming majority of agreed sales are proceeding to completion.
“However, the figures, though comprehensive by including mortgaged and cash sales, cover activity from a few months ago, including the Trump tariff turmoil. Now homeowners face different worries – early signs of speculation about tax increases in the Budget is compromising confidence among some. We may see a pause rather than the ‘stop’ button pressed at least until the uncertainty lifts a little.”
Nick Leeming, chairman of Jackson-Stops: “Property transactions in July remained steady on an annual basis, reflecting a consistent but seasonal level of market activity. Buyers are increasingly having to focus on the realities of their local markets but will be supported across the market by improved affordability following the recent base rate cut to 4%.
“This has helped unlock movement among homeowners nearing the end of fixed-rate deals, many of whom had kept plans on hold due to cost concerns. At the same time, a healthy supply of stock and demand for well-priced, high-quality homes is driving transactions in popular areas.
“Speculation around potential Stamp Duty Reform and wider property tax changes on high-value homes is also shaping behaviour ahead of the Autumn Statement. While proposals such as a Mansion Tax remain hypothetical, they risk unintended consequences if not carefully designed.
“Many older homeowners are asset-rich but cash-poor and further tax barriers could discourage downsizing and reduce market mobility; the very opposite of what the market needs.
“There is broad consensus across the property industry that a step-change is needed. However, this should aim for a balanced approach to reduce friction and support movement within the market.
“In the short-term, the prospect of reform may prompt a flurry of activity, as buyers and seller look to act before any change take effect and force buyers and sellers to change their plans once again.”
Nathan Emerson, CEO of Propertymark: “It is extremely positive to see an uplift in the number of people completing on their property transaction month on month, as it is a clear-cut indicator of overall affordability and consumer confidence.
“We have witnessed the UK Government and the devolved administrations make comprehensive promises regarding housebuilding targets, which should boost the economy in the long run and provide greater choice to those who aspire to buy.
“We also have the Planning and Infrastructure Bill, which will apply to England, working its way through Westminster as the autumn approaches, again aimed at increasing housing supply.”
Nick Hale, CEO of Movera: “Alongside Zoopla’s House Price Index that put sales agreed up 5% on this time last year, these figures paint a positive picture of continued recovery from the slump that followed the end of the temporary nil-rate thresholds in April.
“Given the recent interest rate cut by the BOE, this trend should continue, as buyers will be keen to secure the best mortgages while rates are down. A further cut or hold by the BOE in September would help to sustain buyer confidence and transaction momentum.
“At Movera, we’re focused on helping those looking to move or remortgage as well as providing solutions designed to relieve pressure at all stages of the transaction process and ensure a speedy completion.”
Read the orginal article: https://propertyindustryeye.com/another-uptick-in-property-sales-as-sellers-adapt-to-price-sensitivity-to-close-deals/
