UK residential property transactions fell 3% in April, but are 53% higher than April 2025, according to the latest HM Revenue & Customs (HMRC) data, as the market adjusted following last year's stamp duty changes.

The provisional seasonally adjusted estimate recorded 101,030 residential transactions in April 2026, down 3% from March this year, but 53% higher than the same month a year earlier. The sharp annual increase largely reflects unusually weak activity in April 2025, when transactions dropped after buyers rushed to complete purchases ahead of stamp duty land tax (SDLT) threshold reductions introduced on 1 April 2025.

Non-seasonally adjusted residential transactions totalled 85,880, representing a 16% monthly decline but a 51% increase year-on-year. Meanwhile, non-residential transactions also softened, with seasonally adjusted volumes down 6% from March, although remaining 1% higher than April 2025.

HMRC said that transaction figures reflect completions typically occurring two to four months after an offer is made and therefore do not necessarily indicate current market conditions.
The latest data suggests housing activity remains stable overall, with first-time buyers continuing to provide a key source of demand despite broader economic headwinds.

Commenting on the figures, Hamza Behzad, business development director at Finova, said the housing market has remained resilient despite economic uncertainty. “In spite of rising geopolitical tensions and volatile swap rates, the UK housing market has kept its footing. While the traditional spring bounce may not have reached the heights of previous years, the market is steady."

Behzad added that although inflationary pressures and international events could affect the market in the coming months, structural changes may support activity. “The picture is complicated, but the UK housing market has a track record of standing up to economic turbulence,” he said.

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