The UK housing market showed signs of stalling in the third quarter as speculation over possible reforms to property taxes ahead of the Autumn Budget dampened confidence among buyers and sellers.
According to new data from Landmark Information Group, residential activity across England, Wales and Scotland remained subdued in Q3 2025, with market participants adopting a wait-and-see approach amid uncertainty over fiscal policy.
The group’s quarterly Residential Property Trends Report shows that listing volumes fell by 1% compared with the same period last year, while homes marked as sold subject to contract declined by 6%.
The usual post-summer rebound in September failed to materialise, suggesting that buyers are deferring decisions until after the Chancellor’s statement later this month.
BUDGET SPECULATION
Search order volumes – a key indicator of transactions progressing through the conveyancing process – dropped by 2% year on year, while completions rose by just 1%. Landmark said the figures point to a market that has yet to regain momentum following last year’s post-election slowdown.
Simon Brown (main picture, inset), Chief Executive of Landmark Information Group, says: “People want to move, but speculation around potential changes to property taxes in the forthcoming Autumn Budget has caused activity to stall, with movers likely to be waiting for clarity before making their decisions.”
MODERNISE HOMEBUYING
He adds that the slowdown should be viewed as an opportunity to modernise the homebuying process.
“Housing is a cornerstone of economic growth, yet the process of buying and selling homes remains too slow and uncertain. The Government’s newly announced homebuying reform consultation is a vital and long-overdue step towards change.”
Landmark has been working with industry stakeholders to address delays in the transaction process through its Project 28 Charter, launched earlier this year.
The initiative brings together conveyancers, estate agents and lenders around a shared goal of cutting average transaction times to 28 days through better data sharing and digital innovation.
“The Charter demonstrates what’s possible,” Brown says. “If we modernise the process, we not only restore confidence to the market, we help unlock growth across the wider economy.”
