The HMRC monthly property transaction figures showed that on a seasonally adjusted basis, the number of housing transactions during the month was just 1% up on the previous year.
On a non-seasonally adjusted basis, there were 95,080 housing transactions in June, up 5% year-on-year and 17% higher than in May.
This rise in property transactions built on a 25% seasonally adjusted uplift in May, which came after a decline in completions in April, the same month the stamp duty threshold changed.
HMRC said this reflected a recovery in residential transactions.
Clare Beardmore, director of distribution and mortgage club, mortgage services at Legal & General (L&G), said the figures showed an “encouraging uplift in transactions”.
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Beardmore suggested the market was becoming more favourable, adding: “We are already seeing lenders offering more flexible products, following recent changes to affordability rules.”
The housing market regains its footing
Melanie Spicer, growth director at outsourcer Target Group, said: “This is another sign that the recovery in the housing market is well underway. And it comes on the back of fresh Bank of England data showing… Britons’ borrowing of mortgages and consumer credit rose at a faster pace in June. So, this week, we’ve heard that mortgage approvals increased to around 64,200 in June from 61,300 in May. And we’ve learned remortgaging approvals have hit their highest level since October 2022.
“Let’s not forget that while the Bank of England left interest rates on hold at 4.25% in June, it is widely expected to cut them to 4% at its 7 August meeting. That will be more good news. I’m not sure I’d say this is a mini boom, but it’s clear the housing market has regained its footing, after the tax break for homebuyers ended in April.”
Hamza Behzad, business development director at Finova, added: “In a welcome break from the usual summer slowdown, the latest rise in UK property transactions signals growing buyer confidence. In May, we saw mortgage approvals shoot up for the first time in 2025, and as the Chancellor moves to slash regulatory red tape – potentially enabling lenders to offer mortgage loans at over four-and-a-half times a buyer’s income – opportunities are opening up.
“While overall market activity hasn’t yet returned to historic[al] highs, the market does appear to be steadying. With the Bank of England widely expected to cut rates next week, conditions could become even more favourable for buyers in the months ahead.”
