Overview

• HMRC recorded 95,580 residential transactions in July 2025, up 1% from June and 4% from a year earlier.
• Industry analysis projects about 1.15 million sales this year, roughly 5% higher than 2024 and the strongest since 2022.
• Cheaper mortgages after five interest rate cuts, more flexible affordability checks, and stable borrowing costs have supported demand.
• Agents report most agreed deals are completing, with competitive pricing and a large stock of homes aiding summer activity.
• Reports of possible tax changes—including a national sales levy, local annual property taxes, and capital gains on high-value homes—are unconfirmed, and industry figures warn they could slow autumn transactions and deter downsizing.