There were 101,030 seasonally adjusted residential transactions in the UK during April 2026, according to the latest property transaction statistics from HMRC.
This was up 53% on April 2025 but down 3% on March 2026.
The non-seasonally adjusted figure for residential transactions stood at 85,880, 51% higher than April 2025 and 16% lower than March 2026.
Seasonally adjusted non-residential transactions reached 9,960, 1% above April 2025 and 6% below March 2026.
The non-seasonally adjusted number for non-residential transactions was 9,860, marginally lower than April 2025 and 20% lower than March 2026.
Reaction:
Nick Leeming, chairman of Jackson-Stops:
“Today’s HMRC figures point to a rebound in housing transactions in April 2026, although the rise needs to be viewed in the context of a highly distorted comparison period last year.
“Activity in April 2025 was unusually subdued after many buyers pulled purchases forward into March to complete ahead of stamp duty changes.
“The figures are another reminder of the extent to which stamp duty continues to drive transaction timing and market behaviour, often obscuring underlying levels of demand.
“Our research suggests that removing stamp duty land tax for downsizers alone could unlock as many as 500,000 additional homes to market within a year, improving liquidity and easing pressure across the wider housing chain.
“More broadly, today’s data reflects a market that remains active, but increasingly value-driven.
“Buyers are more price-sensitive than they were a year ago, and activity is most resilient where sellers price realistically and align with current market expectations.”
Ryan McGrath, director of second charge mortgages at Pepper Money:
“A year-on-year decline in April was always likely and should be viewed in the context of an unusually distorted comparison.
“March 2025 was exceptionally strong as buyers rushed to complete ahead of the stamp duty threshold changes, and it’s likely some transactions that would ordinarily have completed in April were also pulled forward into March.
“That makes direct year-on-year comparisons more difficult to interpret than usual.
“The more meaningful signal is in the month-on-month trend, which suggests the market is proving relatively resilient and activity levels are holding broadly steady.
“The broader environment through April was mixed. The Bank of England held rates at 3.75% for a second consecutive meeting, with several market analysts signalling there could be rate hikes if energy prices continue to feed through to inflation.
“Some lenders did begin cutting mortgage rates as market volatility eased following the ceasefire announced in early April, which will have offered a degree of relief, but the average two-year fixed deal still sits meaningfully higher than it did at the start of the year. For many homeowners, the numbers simply don’t stack up in favour of moving.
“That calculation is driving sustained interest in the second charge market.
“Economic uncertainty, higher borrowing costs and subdued property transaction activity mean many homeowners are choosing to stay put rather than move home for additional space or different amenities. Instead, they are investing in improving their existing properties.
“For borrowers locked into competitive fixed-rate mortgages, second charge lending provides a practical way to fund those improvements or consolidate debt without disturbing their existing rate.”
Mark Harris, CEO of SPF Private Clients:
“The war in the Middle East is leading to higher inflation and weaker growth, which is bound to impact housing market activity, although these figures show transaction numbers dipped by a relatively small number month-on-month.
“While the Bank of England is expected to hold base rate again next month, mortgage lenders continue to trim their rates in light of improving funding condition, with. Barclays the latest major lender to lower rates on a range of products.
“However, Swap rate volatility suggests borrowers should not take such reductions for granted, as the situation can quickly change on the back of wider geopolitical events.
“Borrowers should secure a rate at the earliest opportunity for peace of mind, and can always switch to a cheaper rate when they complete if pricing has fallen by that time.”
Hamza Behzad, business development director at Finova:
“In spite of rising geopolitical tensions and volatile swap rates, the UK housing market has kept its footing.
“While the traditional spring bounce may not have reached the heights of previous years, the market is steady.
“Rightmove’s latest figures suggest first-time buyer demand is the most resilient of any single group, and the number of sales agreed for April to date are only 3% behind last year’s volumes.
“It is still too early to say how the Iran war will affect the UK housing market over the long-term. But some factors are easier to predict.
“Inflation growth has been low at 2.8%, but it is only likely to go up in the next few months. But on the other hand, the Renters’ Rights Act may encourage many landlords to speed up their exit plans, releasing new properties into the market and creating more choice for buyers.
“The picture is complicated, but the UK housing market has a track record of standing up to economic turbulence.”
Richard Pike, sales and marketing director at Phoebus Software:
“Today’s transaction data reflects decisions made earlier in the year when market activity was stronger and before the impact of the ongoing crisis in the Middle East.
“However, while these figures show that buyer demand has fallen, the underlying market remains resilient.
“There are early signs that affordability pressures are beginning to ease as economic conditions stabilise, which should help support a gradual pickup in activity as we move into the summer months.
“That said, the outlook remains finely balanced. Lenders will need to stay alert to emerging risks, ensuring they have robust servicing and monitoring capabilities in place to identify signs of stress early and support customers effectively if arrears begin to rise.”
