Accredited official statistics

UK monthly property transactions commentary

Updated 29 August 2025

Headline statistics

Headline statistics from the latest transactions data include:

  • the provisional seasonally adjusted estimate of the number of UK residential transactions in July 2025 is 95,580, 4% higher than July 2024 and 1% higher than June 2025

  • the provisional 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

  • the provisional seasonally adjusted estimate of the number of UK non-residential transactions in July 2025 is 10,260, 1% higher than July 2024 and 1% lower than June 2025

  • the provisional 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

Executive Summary

Figures for seasonally adjusted residential transactions in July 2025 have increased by 1% from 94,540 in June 2025 to 95,580 in July 2025.

Non-seasonally adjusted residential transactions increased by 5% in July 2025 relative to June 2025.

Seasonally adjusted non-residential transactions have also seen a decrease in transactions, with figures for July 2025 1% lower relative to June 2025. Seasonally adjusted non-residential transactions are 1% higher than in July 2024.

Non-seasonally adjusted non-residential transactions are 4% higher relative to June 2025.

About this release

These HM Revenue and Customs (HMRC) National Statistics provide monthly provisional estimates of residential and non-residential property transactions in the UK and its constituent countries. National Statistics are accredited official statistics.

These statistics are based upon records by HMRC, Revenue Scotland and the Welsh Revenue Authority (WRA) for Stamp Duty Land Tax (SDLT), Land and Buildings Transaction Tax (LBTT) and Land Transaction Tax (LTT) respectively.

The latest release was published 09:30am 31 July 2025 and was updated with provisional data from completed transactions during July 2025. The next release will be published 09:30am 30 September 2025 and will be updated with provisional data from completed transactions during August 2025.

The ‘Monthly property transactions completed in the UK with value of £40,000 or above’ statistical release is Crown Copyright. The information can be used as long as the source is clearly described.

The data within these HM Revenue and Customs (HMRC) statistics does not necessarily reflect the current strength of the housing market, because they represent completions which are on average 2 to 4 months after an initial offer is made on a property.

The latest statistics

The latest statistics section provides information on UK residential and non-residential transactions during the previous 3 years. To demonstrate any underlying trends within the data, seasonally adjusted transactions estimates are provided alongside non-seasonally adjusted estimates.

Caution is advised when interpreting estimates for the latest month due to their provisional status. This is because they are based upon incomplete data as not all SDLT, LBTT and LTT returns are received by HMRC, Revenue Scotland and WRA when figures are compiled. We therefore expect statistics to be revised in future months, although transactions figures generally settle after approximately 3 months.

Figure 1: Non-seasonally adjusted and seasonally adjusted UK residential property transactions by month between 2022 and 2025.

Figure 1 demonstrates the following trends for UK residential transactions:

  • provisional figures for July 2025 increased by 1% for seasonally adjusted transactions from June 2025

  • non-seasonally adjusted transactions increased by 5% in July 2025 relative to June 2025

Figure 2: Non-seasonally adjusted and seasonally adjusted UK non-residential property transactions by month between 2022 and 2025.

Figure 2 demonstrates the following trends for UK non-residential transactions:

  • seasonally adjusted transaction levels for July 2025 decreased by 1% relative to June 2025

  • non-seasonally adjusted non-residential transaction figures for July 2025 increased by 4% relative to June 2025

UK residential transactions

Residential property refers to buildings used or suitable for use as a dwelling, or in the process of being constructed for use as a dwelling. It also includes the gardens and grounds of dwellings. Go to HMRC Stamp Duty Land Tax Manual for more definitions of residential and non-residential properties.

The following section provides detailed analysis of UK residential transactions. To demonstrate any underlying trends within the data, seasonally adjusted transactions estimates are provided alongside non-seasonally adjusted estimates.

Figure 3: Comparisons of non-seasonally adjusted and seasonally adjusted UK residential transactions in July between 2016 and 2025.

Month and year Non-seasonally adjusted Seasonally adjusted
July 2016 106,040 97,050
July 2017 105,610 103,670
July 2018 103,690 98,870
July 2019 104,780 98,110
July 2020 80,660 71,810
July 2021 83,520 75,810
July 2022 110,030 103,110
July 2023 85,510 85,440
July 2024 97,310 91,600
July 2025 [provisional estimates] 101,070 95,580

Figure 4: Financial year to date (April to July) comparison of UK residential transactions between the 2016 to 2017 and 2025 to 2026 financial years.

Financial Year Non-seasonally adjusted Seasonally adjusted
2016 to 2017 364,690 361,470
2017 to 2018 408,160 412,170
2018 to 2019 395,310 399,080
2019 to 2020 390,030 393,090
2020 to 2021 231,600 226,470
2021 to 2022 514,840 517,850
2022 to 2023 413,160 420,870
2023 to 2024 322,320 331,090
2024 to 2025 358,970 366,290
2025 to 2026 [provisional estimates] 336,160 338,470

Figure 5: Historic non-seasonally adjusted and seasonally adjusted UK residential property transactions by month between 2005 and 2025.

Figure 5 demonstrates the following trends for UK residential transactions:

  • there was a large peak in transactions in March 2025 and a subsequent drop in April 2025 likely due to transactions brought forward ahead of the SDLT threshold reductions from 1 April 2025

  • there were large peaks in transactions during March, June, and September 2021 caused by increased numbers of taxpayers taking advantage of temporarily increased nil rate bands of SDLT, LBTT, and LTT

  • the COVID-19 pandemic caused substantial decreases for transactions during 2020 quarter 2

  • there was a large peak in March 2016 caused by increased amounts of taxpayers completing before the introduction of higher rates for additional residential properties from April 2016

  • there was an unseasonal peak in December 2009 caused by the ending of a temporarily increased nil rate band for residential transactions

  • the fall in transactions from late 2007 coincided with the financial crisis, before which transactions had increased steadily before peaking in mid 2006

UK non-residential transactions

Non-residential property includes, but is not limited to:

  • commercial property
  • agricultural land
  • forests
  • any other land or property which is not residential
  • 6 or more residential properties bought in a single transaction
  • mixed use transactions

The following section provides detailed analysis of UK non-residential transactions. To demonstrate any underlying trends within the data, seasonally adjusted transactions estimates are provided alongside non-seasonally adjusted estimates.

Figure 6: Comparisons of non-seasonally adjusted and seasonally adjusted UK non-residential transactions in July between 2016 and 2025.

Month and year Non-seasonally adjusted Seasonally adjusted
July 2016 10,150 10,270
July 2017 10,390 10,940
July 2018 10,290 10,330
July 2019 10,530 10,160
July 2020 8,450 7,930
July 2021 10,010 9,810
July 2022 10,320 10,410
July 2023 9,330 9,780
July 2024 10,540 10,130
July 2025 [provisional estimates] 10,620 10,260

Figure 7: Financial year to date (April to July) comparison of UK non-residential transactions between the 2016 to 2017 and 2025 to 2026 financial years.

Financial Year Non-seasonally adjusted Seasonally adjusted
2016 to 2017 41,540 42,100
2017 to 2018 41,730 42,770
2018 to 2019 41,150 41,640
2019 to 2020 40,780 40,860
2020 to 2021 26,410 26,070
2021 to 2022 41,890 42,000
2022 to 2023 41,850 42,340
2023 to 2024 38,340 39,090
2024 to 2025 41,010 40,870
2025 to 2026 [provisional estimates] 40,080 40,050

Figure 8: Historic non-seasonally adjusted and seasonally adjusted UK non-residential property transactions by month between 2005 and 2025.

Figure : Historic non-seasonally adjusted and seasonally adjusted UK non-residential property transactions by month between 2005 and 2025.

Figure 8 demonstrates the following trends for UK non-residential transactions:

  • ahead of the Autumn Budget 2024, October 2024 saw the highest transaction figures since the introduction of these SDLT statistics in 2005

  • impacts from the COVID-19 pandemic resulted in the second quarter of 2020 showing the lowest quarterly total for transactions since the introduction of these SDLT statistics in 2005

  • as with UK residential transactions, the 2007 financial crisis triggered a fall in UK non-residential transactions

Contacts

The ‘Monthly property transactions completed in the UK with value with value of £40,000 or above’ statistical release is produced by the Property Tax Statistics team as part of the ‘Property transactions in the UK’ collection.

Contact stamptaxes.statistics@hmrc.gov.uk for statistical enquiries.

Contact HMRC press office for media enquiries.