The number of British residential transactions in April 2025 was 64,680, 28% lower than April 2024 and 64% lower than March 2025.
These are the last numbers of the HMRC that indicate that the figures have been influenced by the changes in Stamp Duty Land Tax rates In England and Noord -Ireland from the beginning of April 2025.
In his report, the HMRC said: “The decrease in the transactions for April follows increased transactions in March, probably brought forward to take advantage of the higher thresholds in March.”
In a commentary on the HMRC data, Acumen Managing Director Andrew Lloyd said: “The long Easter holiday meant an end to the party holiday and the increase in transactional activity that the year started.
“But on the market we still see a strong appetite for deal stream and a demand for bricks and mortar that will continue to resonate in the coming months.
“Residential is only part of the full image. In commercial real estate, a combination of rental growth, yield effects that become positive and looser credit restrictions have contributed to an impressive performance under the leadership of the retail trade.”
Saffron for Intermediairs National Account Manager Phil Lawford said: “A slight dip in transactions in April is not unexpected because the market has been adapted to the recent changes in the seal rights.”
He added: “Despite the slower numbers, there are plenty of reasons to be optimistic. We are going to be the typically busy summer period and reforms of the government to support housing builders offer a new hope for increasing the range and revitalizing the market – making it simpler and faster for SMEs to build houses.”
Antony Roberts Estate Agency Head of Sales said there had been stable transaction volumes since the end of the holidays of the seal rights that reflect the constant resilience of the housing market despite constant economic uncertainty.
“We see a flight to quality buyers are more selective and more price-more sensitive, but they are still being handled where values match the lifestyle. It is also clear that although high mortgage interest rate has cooled the market somewhat, demand is supported in many areas by a low supply.”
She added: “The most important challenge is affordability. Mortgage interest, higher stamp rights and for many the increased costs of private school costs influence many families who want to move, but cannot.”