Residential property transactions rose in July 2025, as the latest HMRC figures showed both an annual and a monthly increase in activity.
The provisional seasonally adjusted estimate for UK residential transactions stood at 95,580, 4% higher than in July 2024 and up 1% compared with June 2025.
On a non-seasonally adjusted basis, the total was 101,070, also 4% higher year-on-year and 5% above the previous month.
Activity in the non-residential property sector showed a more subdued picture.
The seasonally adjusted estimate for July recorded 10,260 transactions, up 1% on July 2024 but down 1% from June 2025.
On a non-seasonally adjusted basis, non-residential transactions totalled 10,620, which was marginally higher than the same month last year and 4% higher than the previous month.
The figures suggest that momentum in the housing market has picked up during the summer, with steady increases in residential activity, while the commercial and land sector continues to show more modest movements.
Reaction:
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.”
Tony Hall, head of business development at Saffron for Intermediaries:
“Today’s figures show an increase in transactions, underlining the resilience of buyers despite recent inflationary pressures. Lenders have responded by reducing rates in line with market conditions, while smaller providers are also launching new products to meet ongoing demand in the housing market.”
“Average mortgage rates have now dipped below 5% for the first time since the 2022 mini-budget, marking an important milestone for affordability. At the same time, the Chancellor is reviewing property tax reforms ahead of the Autumn Budget.
“The devil will be in the detail – if the burden shifts to sellers, we could see asking prices rise, reducing the incentive for downsizers to move and potentially limiting supply for first-time buyers.
“Until the proposals are confirmed, brokers will play a vital role in guiding borrowers through what remains a competitive and evolving market.”
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.”
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.”
