According to a report from TwentyEA, the volume of sales agreed so far this year came to 791,000, which is 6.8% up on last year and the highest level seen since 2022.
HMRC data also reveals that residential transactions reached 573,000 in the first half of the year, a rise of 17.1% on 2024 and 5.87% up on pre-pandemic levels.
The figures show that while April and May had negative growth due to a “hangover” from stamp duty changes, the market rebounded in June with 4.6% year-on-year growth.
TwentyEA said that based on these figures, it forecasts that there will be around 1.18 million transactions for 2025, 7% up on the 1.1 million purchases last year.
| Year | Transaction volume at full year |
| 2024 | 1,102,400 |
| 2023 | 1,019,450 |
| 2022 | 1,258,230 |
| 2021 | 1,476,040 |
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The report stated that demand in 2025 has grown in all regions barring Northern Ireland, with the strongest increases seen in the North West at 10.9% and Wales at 9.9%.
TwentyEA noted that growth in demand was more pronounced in the Midlands and the North compared to London and the South.
The report said the upward trend was in all price bands, with the highest growth in the £350,000-1m range at 89.9%, followed by the £200,000-250,000 band at 8.8%.
Looking at supply, the strongest growth was at 5.8% in the £350,000-1m range, followed by 5.5% growth in the £200,000-350,000 price band.
Outer London had the biggest boost in supply at 8%, followed by the Midlands, the East and the North East.
Katy Billany, executive director of TwentyEA said: “Despite the changes to stamp duty bringing a noticeable ‘hangover’ to the market throughout April and May, it bounced back with a spring in its step in June. Momentum has been further boosted by the most recent interest rate cut last Thursday to 4%, and will possibly fall further to 3.75% by the end of the year, injecting a renewed confidence into both buyers and sellers.
“When compared to 2024, 2023, and pre-pandemic 2019, demand volumes have been consistently higher in every single month of 2025 so far. Given this sustained growth, we’re confident 2025 will remain buoyant, with a healthy pipeline of deals for estate agents. We forecast transactions will be in line with the pre-pandemic year of 2019 to reach 1.18 million by the end of 2025 – 7% higher than in 2024, which is exceptional news for estate agents.”
