Lender innovation has kept the property market busy, experts have said, as the number of UK residential property transactions in July 2025 was up 4% on July last year and also higher than the previous month, according to HMRC data published today.
HMRC data shows the seasonally adjusted estimate of the number of UK residential transactions in July 2025 was 95,580, 4% higher than July 2024 and 1% higher than June 2025.
Meanwhile, the non-seasonally adjusted estimate of the number of UK residential transactions in July 2025 is 101,070, 4% higher than July 2024 and 5% higher than June 2025.
Additionally, the seasonally adjusted estimate of the number of UK non-residential transactions in July 2025 was 10,260, 1% higher than July 2024 and 1% lower than June 2025; while the non-seasonally adjusted estimate of the number of UK non-residential transactions in July 2025 is 10,620, marginally higher (less than 1%) than July 2024 and 4% higher than June 2025.
Andrew Montlake, CEO at London-based Coreco, said lender innovation may have been a driver of transaction levels rising: “This data underlines that property activity held up fairly well in July and was stronger than last year. We saw a lot of lender innovation around affordability in the late spring and early summer and that may well be feeding into the data.
“Demand has also been reasonable in August following the base rate cut, although swap rates have edged up since with a few lenders also repricing upwards slightly. But there could be a surge as we enter September and lenders start actively competing for business before year end. The property market is holding on in there.”
Emma Jones, Managing Director at Runcorn-based Whenthebanksaysno.co.uk, agreed: “Lenders have been very proactive in terms of product innovation in 2025 and this appears to have kept transaction levels strong despite ongoing economic turbulence. August has also been exceptionally busy, far busier than any other August in my experience, so I’d expect the figures next month to be up again. Clearly, the Autumn Budget looms and that could cause a degree of upheaval if some of the rumoured tax changes are implemented.”
Ranald Mitchell, Director at Norwich-based Charwin Mortgages, said: “UK homes are still selling in a market that refuses to slow down. With over 101,000 homes changing hands in July, sales are running 4% higher than this time last year and ahead of June, showing buyers are pressing on despite current borrowing costs. The commercial market is flatter, but housing is where the energy is and buyers clearly aren’t waiting on the sidelines.
“The latest sales surge shows confidence is creeping back and buyers have finally accepted that today’s cost of borrowing is the new normal. That’s good news for sellers, estate agents and the wider economy.”
Patricia McGirr, Founder at Burnley-based Repossession Rescue Network, added: “UK housing transactions rose 4% in July compared to last year, suggesting the market is regaining some momentum. Stabilising mortgage rates are tempting more buyers and sellers back into the fray. But an ongoing rise in down valuations might take the wind out of future sales. The commercial sector is still sluggish and lenders and buyers appear to be hedging their bets, as the high street struggles.”
Rohit Kohli, Director at Romsey-based The Mortgage Stop, said it’s business as usual for bricks and mortar: “The latest HMRC figures reflect what we’ve seen here, more people are pushing ahead with moves, despite government policy seemingly designed to push both landlords and buyers out of the market. First-time buyers continue to face extreme affordability pressures and landlords are contending with constant tax and regulatory hits, yet demand to own property remains.
“July’s uplift shows the appetite to buy is stronger than the barriers being put in place. But if the government insists on continually meddling and creating uncertainty, that resilience won’t last — and the market could quickly stall.”
