UK property transactions rebounded sharply in June, signalling renewed buyer confidence and growing market resilience after a subdued spring.
According to the latest HMRC figures, seasonally adjusted residential sales rose 13% month-on-month to 93,530, while non-seasonally adjusted transactions hit 95,080, up 17% on May and 5% higher than in June 2024.
Analysts say the figures indicate a stabilisation in both residential and commercial markets, supported by gradually easing mortgage rates, increased product availability, and greater consumer certainty.
The uplift also reflects a continued recovery following the dip that followed the end of temporary stamp duty relief measures earlier this year.
UPWARD TRENDS
Non-residential activity mirrored the upward trend, with seasonally adjusted commercial transactions rising 5% to 10,310 and unadjusted volumes climbing 8% year-on-year to 10,190.
“The latest data shows housing sales are on the rise, picking up on improved buyer confidence from stable mortgage rates and more sellers in the market, many of whom are also buyers,” says Richard Donnell, Executive Director at Zoopla.
“Zoopla data for sales leads these completion statistics by 5 to 6 months, showing sales will continue to increase, with sales on track to total 1.15m, 5% higher than over 2024.”
CLEAR SIGNAL
Iain McKenzie, CEO of The Guild of Property Professionals, described the 13% rise as “a clear signal that buyer confidence is returning to the market, shaking off the last of the economic inertia.”
He adds: “The momentum isn’t happening in a vacuum. It’s being fuelled by an increasingly stable and optimistic mortgage environment.
“While the Bank of England held rates steady in June, the widespread anticipation of a rate cut in August is already being priced in by lenders.”
PRICING IS KEY
Despite more favourable conditions, Jeremy Leaf, north London estate agent and former RICS residential chairman, cautioned that pricing remains key.
“These transaction numbers strip the market bare as they reflect mortgaged and cash buyers negotiating hard to make their moves over the past few months in particular,” he says.
“But that show of realism is not being seen across the board… too many of our higher-end listings still need to get the message.”
PROGRESSION
Nathan Emerson, CEO of Propertymark, says that the uptick shows “the housing market is starting to see progression, especially following the recent upheaval of the Stamp Duty threshold changes.”
He also points to government support measures.
And he says: “The ambitious Social and Affordable Homes Programme from June 2025’s spending review aims to invest £39 billion to deliver approximately 300,000 new homes in England.”
SLOWING DOWN
For agents on the ground, the expected summer slowdown has failed to materialise.
“As this data shows, contrary to expectations, the property market isn’t slowing down for summer,” says Amy Reynolds, head of sales at Richmond estate agency Antony Roberts.
“Buyers are pragmatic about what they want and what they’ll pay.
“If a property is priced correctly and meets the right needs, the buyer will be there – and we’re seeing this play out across all price brackets.”
MODERNISE OR DIE
Beyond sentiment and sales numbers, Maria Harris, chair of the Open Property Data Association, argues that the industry must modernise to keep up.
“While it’s great that volumes are back on the rise, the experience of buying and selling a home isn’t where we need it to be. Consumers and the industry are still stuck navigating a process that is opaque, inefficient, and largely paper-based – and that must change,” she says.
“To create a housing market that is fit for purpose, we need to deliver physical and digital housing strategy.”
