Property transactions rise by 2% in June – HMRC

“People are understandably reluctant to make major financial commitments if they are unsure how future tax changes could affect the cost of moving.

“Housing thrives on confidence and stability. 

“With interest rates having stayed the same following yesterday’s decision, consumers and lenders now have greater clarity over borrowing costs, allowing households to make informed decisions about their next move. 

“We now need that same level of certainty from government on its long-term housing strategy to help sustain market momentum.”

Ryan Brailsford, distribution director at Pepper Money: 

“An annual rise in transactions is a positive signal. 

“This time last summer, buyers were still adjusting to a run of much higher mortgage rates, and confidence across the market was noticeably fragile, so a step up on those numbers reflects a chunk of that adjustment now being absorbed. 

“Mortgage approvals have picked up over recent months, and some lenders have adapted their affordability criteria to reflect changing market conditions, while continuing to apply robust checks. 

“That’s translating into more people feeling able to commit to a move.

“That said, headline growth doesn’t mean the market has fully reopened for everyone. 

“Self-employed borrowers often have complex or fluctuating income that requires more individual assessment, and 76% believe their employment status makes it harder to secure a mortgage. 

“Yet the aspiration is clear: 80% hope to own a home, while around 300,000 self-employed adults with adverse credit expect to be in a position to buy within the next three years. 

“This underlines the importance of trusted advice and lenders combining specialist understanding, responsible human judgement and data-enabled intelligence to assess each customer’s circumstances properly.

“We’re still seeing a market shaped as much by affordability rules as by rates themselves. 

“Dual-income households tend to have an easier path through than single-income buyers, and key workers, teachers, nurses, firefighters, are often the ones finding it hardest to get through the door even as overall activity improves. 

“That’s a structural issue rather than a cyclical one, and it isn’t going to resolve itself just because transaction numbers tick up.

“With a new government setting out its housing plans and a Q4 Budget on the horizon, there’s a reasonable chance policy, not just rates, ends up doing more to shape the next set of transaction figures than anything the Bank of England does.”

Richard Sexton, managing director at LGSS: 

“A rising tide does not lift all boats equally. In the housing market, stronger transaction numbers are welcome, but the real test is whether confidence is being matched by sound decision-making.

“The latest HMRC property transaction figures suggest activity is beginning to strengthen, providing a sign that some buyers and sellers are becoming more willing to move forward after a period of uncertainty.

“However, a busier market does not remove the need for careful risk assessment. 

“In fact, as transaction levels recover, lenders must continue ensuring that increased activity is supported by accurate and proportionate valuations.

“The housing market is not made up of identical properties or identical risks. 

“While some straightforward cases can benefit from increasingly sophisticated data and automated approaches, more complex properties and specialist lending scenarios still require experienced professional judgement.

“It is also important to recognise that national transaction figures rarely tell a uniform story. 

“Activity levels can vary significantly by region, property type and local market dynamics, with some areas experiencing stronger momentum than others. 

“Understanding these regional nuances remains essential for lenders when assessing risk, setting strategy and ensuring valuations accurately reflect local market conditions, which reinforces the need for local intelligence for lenders in particular- there is no better source of this than qualified valuers.

“For valuation firms, the challenge is not simply keeping pace with transaction volumes. 

“It is ensuring quality remains consistent as the market becomes more active.

“Sustainable growth depends on confidence at every stage of the process, from the initial lending decision through to the valuation that supports it.”

Nick Leeming, chairman of Jackson-Stops: 

“The latest HMRC figures reflect a housing market that continues to move at a measured pace, but this should not be mistaken for a lack of demand. 

“Our latest research shows continued intent, with 8% of homeowners in England currently planning to move or already doing so. 

“People continue to move for work, family and lifestyle reasons, but decisions are taking longer as households weigh higher borrowing costs and wider economic uncertainty against uncertain moving timelines.

“The result is a more considered market, where transactions continue to progress at a slower, more deliberate pace.

“This is further evidence that reforming the home-buying and selling process must remain a priority for our new housing minister and the government. 

“We have seen positive signs, but maintaining momentum will be essential to delivering a process that provides greater certainty for buyers and sellers while supporting a more fluid housing market.

“While no single reform will transform market activity overnight, improving the speed, transparency and predictability of transactions can help remove unnecessary barriers within the moving process and give more households the confidence to proceed. 

“Our research suggests that greater certainty around transaction timelines could unlock around 260,000 additional owner-occupied homes across England within a year.

“Looking ahead, affordability and the wider economic backdrop will continue to shape activity, but improving certainty within the transaction process is one practical area where meaningful progress can be made. 

“A healthier housing market is not only about encouraging more people to move, but also about making the process more efficient and predictable, giving, predictable and gives buyers and sellers the confidence to see transactions through to completion.”