The latest seasonally-adjusted data from HMRC shows a 3% drop in the number of deals completed last month.
1st Jun 20260 8,669 3 minutes read David Callaghan
Numbers of property deals fell 3% last month as the housing market struggled with global uncertainty factors.
The latest seasonally adjusted data from HMRC shows there was a monthly fall from March to April of 103,910 to 101,030.
There is a 53% jump from April last year, but that reflects much lower transaction levels after an end to a Stamp Duty holiday.
And the non-seasonally adjusted total was 85,880, 51% higher than April 2025 and 16% lower than March this year, HMRC said.
Industry reaction
Nick Leeming, Chairman, Jackson-Stops
Nick Leeming, Chairman at Jackson-Stops, says: “Today’s HMRC figures point to a rebound in housing transactions in April 2026, although the rise needs to be viewed in the context of a highly distorted comparison period last year.
“More broadly, today’s data reflects a market that remains active, but increasingly value-driven. Buyers are more price-sensitive than they were a year ago, and activity is most resilient where sellers price realistically and align with current market expectations.”
Mark Harris, Chief Executive, SPF
Mark Harris, CEO at SPF Private Clients, says: “The war in the Middle East is leading to higher inflation and weaker growth, which is bound to impact housing market activity, although these figures show transaction numbers dipped by a relatively small number month-on-month.
“While the Bank of England is expected to hold base rate again next month, mortgage lenders continue to trim their rates in light of improving funding condition, with. Barclays the latest major lender to lower rates on a range of products.”
Softening
Amy Reynolds, Head of Sales, Antony Roberts
Amy Reynolds, Head of Sales at Antony Roberts, says: “On the ground, we saw some softening in initial viewing levels in April as people took stock of the situation in the Middle East and what impact this might have on borrowing costs.
“However, since then, things have picked up and even though it has been half term, we have been much busier than expected, which is hopefully sign of a more buoyant market to come.
“Transactions are being agreed at levels broadly in line with what we would expect at this time of year. The market feels steady rather than spectacular with buyers still active but more selective, more analytical on pricing and far more aware of monthly mortgage costs than they were a year ago.”
Iain McKenzie, CEO, The Guild of Property Professionals
Iain McKenzie, CEO at The Guild of Property Professionals, says: “The latest transaction figures highlight the underlying resilience of the UK housing market.
“While seasonally adjusted residential transactions dipped modestly by 3% between March and April, market activity continues to hold firm against a backdrop of economic uncertainty and shifting buyer sentiment.”
Disappointing
Nathan Emerson, Chief Executive, Propertymark
Nathan Emerson, CEO of Propertymark, says: “While it is disappointing to see the volume of non-seasonally adjusted housing transactions display negativity month-on-month, when viewing the wider picture year-on-year, they show a return to more expected numbers, all following changes to thresholds to Stamp Duty at the start of April 2025.
“Sentiment within the housing sector remains a central indicator of economic health. With global unease continuing to add potential unforeseen pressures for many people, it is important to apply a sense of caution regarding affordability over the coming weeks and months.”
Richard Donnell, Executive Director, Zoopla
Richard Donnell, Executive Director at Zoopla, says: “April saw a 3% fall in completed home sales versus March which is in line with previous years as households rush to complete sales before Easter each year.
“Overall, housing sales in April were running 3% ahead of the previous 12 months as the number of housing sales increased from the low of 2023 when activity was hit by higher mortgage rates.
“We expect housing sales to end 2026 at close to 1.2m, the 20 year average and a healthy position given the impact of higher mortgage rates and economic uncertainty – it highlights the strong intent of household to continue to move home.”
TagsHMRC transactions stamp duty 1st Jun 20260 8,669 3 minutes read David Callaghan Share Facebook X LinkedIn Share via Email