The UK housing market recorded its busiest month since the height of the pandemic-era stamp duty holiday, as transaction levels surged 89% in March 2025 compared to the previous month, according to new analysis from estate agent comparison site GetAgent.co.uk.
The spike in completions coincided with the end of a temporary stamp duty incentive, echoing patterns seen during the Covid-19 period.
However, while previous post-deadline lulls followed similar surges, analysts believe this year’s property market may avoid the same fate.
Provisional data from HMRC shows that 149,660 property transactions were completed in England in March, up 114% on January levels and the highest monthly total since June 2021, when completions reached 191,300 as buyers raced to benefit from the first phase of the pandemic stamp duty holiday.
SECOND-HIGHEST MONTHLY TOTAL
Notably, transaction volumes in March 2025 represent the second-highest monthly total in the last five years, surpassed only by that June 2021 peak.
For context, the market also saw a significant 69% rise in completions in September 2021 during the second leg of the pandemic relief period, before plunging by 54% the following month.
Yet the latest data suggest a more sustained level of market activity. GetAgent reports a 37% year-on-year increase in vendor referrals during Q1 2025 and a 51% rise in valuation referrals—when sellers go on to book property valuations – compared to Q1 2024.
NO SURPRISE
Colby Short, Co-founder and CEO of GetAgent.co.uk, says: “It’s no surprise that the recent stamp duty deadline drove an increase in monthly sales volumes, as homebuyers scrambled to complete after relatively short notice from the government.
But despite previous trends of market decline following past SDLT deadlines, the current momentum appears set to continue.
“Our Client Services team speaks to thousands of vendors each week, and the sentiment is clear: sellers remain motivated and confident in the market, even now the deadline has passed.”
STRONG SENTIMENT
GetAgent’s findings indicate that while stamp duty incentives continue to be effective in driving short-term demand, underlying market sentiment remains strong heading into the summer.
“This isn’t just a post-deadline blip,” Short adds. “The strength of vendor engagement and the sharp rise in valuation activity are strong signs that market momentum is building, not fading.”
