House sales fall after Stamp Duty changes

June 6, 2025 by Brendan O'Neill

Surveys and Statistics

The latest data for the housing market in the UK shows that there was a steep fall in the number of residential transactions during April, with this being attributed to the Stamp Duty changes.

This data was published by HMRC and it reveals a month-on-month drop of 64% in residential transaction numbers for April. That figure is seasonally adjusted. The total number of those transactions for the month was 64,680, whereas in March it was 177,440. It should be noted though, that the March total was unusually high – because buyers were trying to get deals over the line before the Stamp Duty changes came into effect.

HMRC has pointed out that a lot of homebuyers brought forward the date of their purchases so that they could evade increased Stamp Duty payments. If the figures for the two months are compared without seasonal adjustment, the month-on-month drop is 66%. That is the sharpest fall for a single month there has ever been.

It is not just residential transactions that were impacted either. April also saw a 16% drop in the total numbers for non-residential transactions, in comparison to the month before. That is with seasonal adjustment. Without it, the difference is 21%.

Andrew Lloyd from Search Acumen told Mortgage Introducer that there was cause for optimism:

“But across the market we are still seeing a strong appetite for deal flow and a demand for bricks and mortar that will continue to resonate throughout the upcoming months.”

Those with CeMAP training will know that March was unusual in terms of activity.