UK residential property transactions in September 2026 were 4% lower than the same month last year, according to new figures from HMRC. The seasonally adjusted total for September stood at 94,800, a 1% decrease from August.
Richard Donnell, executive director at Zoopla, stated that higher mortgage rates have significantly impacted buyers, reducing their purchasing power by 15%. Sales agreed in the last four weeks were also 7% lower than a year ago.
Zoopla now anticipates 100,000 fewer housing transactions this year compared to 2025. Nick Leeming, chairman of Jackson-Stops, noted that the traditional autumn recovery in the market has not gained momentum, with buyers becoming more selective.
Ian Harris, president of NAEA Propertymark, highlighted affordability as a major obstacle. He also pointed to ongoing uncertainty regarding borrowing costs, with speculation surrounding the Bank of England's potential base rate decision next week.