Residential property transactions increased in July according to government figures released over the weekend.
According to HMRC, the provisional seasonally adjusted number of residential transactions reached 95,580 in July, representing a 4% rise on July 2024 and a 1% increase from June 2025.
The non-seasonally adjusted figure stood at 101,070, also 4% higher than the same month last year and 5% above the previous month.
L&G director of distribution and mortgage club, mortgage services, Clare Beardmore, comments: “This encouraging uplift in transactions suggests growing confidence in the market, and our broker data shows a significant increase in buyers of all ages looking to step onto the property ladder for the first time.
“Lenders are continuing to respond to shifting borrower demands with new and innovative mortgage product offerings, and potential policy changes may be around the corner, which could support buyer affordability too.”
Tony Hall, head of business development at Saffron for Intermediaries, sees it this way: “Today’s figures show an increase in transactions, underlining the resilience of buyers despite recent inflationary pressures.
“Lenders have responded by reducing rates in line with market conditions, while smaller providers are also launching new products to meet ongoing demand in the housing market.
“Average mortgage rates have now dipped below 5% for the first time since the 2022 mini-budget, marking an important milestone for affordability. At the same time, the Chancellor is reviewing property tax reforms ahead of the Autumn Budget.
“… If the burden shifts to sellers, we could see asking prices rise, reducing the incentive for downsizers to move and potentially limiting supply for first-time buyers. Until the proposals are confirmed, brokers will play a vital role in guiding borrowers through what remains a competitive and evolving market.”
SPF Private Clients chief executive Mark Harris adds: “Transaction numbers have risen again as cheaper interest rates encourage activity and enable borrowers to plan ahead with more confidence.
“Despite another rate cut earlier this month from the Bank of England, some lenders are repricing upwards, including NatWest, Santander and Coventry, while HSBC has reduced rates.
“The mixed picture is down to rising swap rates, which underpin the pricing of fixed-rate mortgages, and lenders not wanting to offer the best rates during the summer months when staff are away on holiday and resources are more limited.”
