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House sales in the UK lifted higher last month as activity continued its recovery following the end of the stamp duty holiday. Official figures from HM Revenue & Customs showed property transaction rose 1% month-on-month in July. It said there were 95,580 property sales last month, reflecting a 4% increase against July last year. The results indicated a continued rebound in property demand after another increase in June. This recovery followed a notable drop in house sales after changes to the stamp duty threshold. Rules introduced following the coronavirus pandemic meant property sales only started paying stamp duty from a value of £250,000, but this was reduced to £125,000 at the start of April. It therefore resulted in a surge in activity in March as buyers sought to avoid paying higher duty payments, and a subsequent fall in activity in April. Property experts suggested Friday’s figures show resilience in the UK property market despite wider economic uncertainty. Jason Tebb, president of OnTheMarket, said: ‘July saw transaction numbers continue to recover following the dip in activity after the end of the stamp duty holiday as buyers brought forward purchases in order to take advantage of tax savings. ‘Once again, these figures suggest that the housing market remains remarkably resilient, despite wider economic and political concerns. ‘Five interest rate reductions in the past year have provided much-needed stimulus to the market, boosting confidence and activity.’ Richard Donnell, executive director at Zoopla, said: ‘Housing sales are steadily increasing as mortgage rates have stabilised and buyers have been given a boost to buying power from less stringent affordability requirements. ‘The market is on track for 5% more sales in 2025 at 1.15 million, the highest since 2022. ‘This is despite property tax speculation and mortgage rates drifting higher.’ By Henry Saker-Clark, PA Deputy Business Editor Press Association: Finance source: PA Copyright 2025 Alliance News Ltd. All Rights Reserved.
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