|
The number of UK home sales in May was around 17% higher than the same month in 2025, according to HM Revenue & Customs figures. Across the UK, an estimated 98,450 home sales took place in May, which was 17% higher than May 2025 and 2% lower than in April 2026. HMRC said the annual increase reflects lower transaction levels in April and May 2025, when activity fell following changes to stamp duty thresholds. House sales were bunched up before last year’s changes as buyers rushed to beat the deadline before stamp duty discounts became less generous. Stamp duty applies in England and Northern Ireland. Richard Donnell, executive director at Zoopla, said: ‘Housing transactions tell us about sales agreed five to six months ago this latest data shows sales completions starting to slow in May compared to April which reflects the impact of last year’s autumn budget on sales. ‘Looking ahead, while there is a healthy pipeline of sales from recent months, higher mortgage rates over April have hit new sales agreed.’ He added: ‘Sellers need to price carefully to attract demand if they want to sell their home this year.’ Nathan Emerson, chief executive officer at property professionals’ body Propertymark, said: ‘Our member agents are reporting that well-priced homes continue to attract strong interest, particularly where there is a good choice of stock available.’ Jason Tebb, president of OnTheMarket, said: ‘Buyers and sellers are mostly adapting to changing circumstances and continuing to proceed with their transactions, rather than stepping back and delaying decisions.’ Iain McKenzie, CEO of The Guild of Property Professionals, said: ‘Crucially, the non-discretionary mover continues to underpin the market. ‘Annually, a substantial portion of transactions are driven by unavoidable life events and those movers are not waiting for the perfect conditions.’ Mark Harris, chief executive of mortgage broker SPF Private Clients, said: ‘With the Bank of England holding base rate for now, mortgage lenders continue to trim their rates in light of improving funding conditions, which is good news for borrowers.’ By Vicky Shaw, Press Association Personal Finance Correspondent Press Association: Finance source: PA Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
