UK residential property transactions stabilised in June 2026, ending a two-month decline, according to data released by HMRC. The seasonally adjusted estimate for residential transactions reached 98,700, a marginal increase of less than 1% compared to May's figure of 98,460.
HMRC noted that the year-on-year increase in transactions for June 2026, which was 2% higher than June 2025, likely indicates an increase in underlying property market activity. The non-seasonally adjusted estimate for June stood at 103,050 transactions.
Despite the stabilisation, market experts observed that the seasonal spring bounce was subdued. Tom Bill, Head of UK Residential Research at Knight Frank, attributed this to higher mortgage rates linked to the Middle East conflict and uncertainty surrounding property taxation.
Nathan Emerson, CEO at Propertymark, described the increase as an encouraging sign of buyer and seller confidence. However, he warned that market confidence would depend on greater policy certainty, citing discussions around potential reforms to stamp duty and council tax as creating consumer uncertainty.