The number of residential property transactions totalled 116,230 in October, 4% higher than October 2024 and 13% higher than September 2025, the latest HMRC statistics show.
On a seasonally-adjusted basis, transactions were 2% lower than last year but 2% higher than September.
Lee Williams, national sales manager at Saffron for Intermediaries, commented: “Today’s data shows a steady increase in housing market activity through October, reflecting the underlying resilience we’ve continued to see in recent months. Despite speculation that some buyers might take a ‘wait and see’ approach ahead of the Autumn Budget, confidence has remained strong in sections of the market, supported by easing inflationary pressures and a growing range of competitive mortgage products.
“As we now move beyond the Budget, the focus will shift to how the Chancellor’s measures influence sentiment and activity in the months ahead."
Hamza Behzad, business development director at Finova, said: “This month’s data is a hopeful sign that confidence is starting to return to the housing market and the sectors overall health is robust. In the immediate aftermath of the Budget, it’s difficult to know how the government's new policy changes will impact market activity in the coming months but the Chancellor’s decision to avoid a wider property tax and keep stamp duty unchanged should help lift market confidence. However, the mansion tax and higher taxes on landlords may worsen rental pressures, making lender support and efficient decision-making even more critical.
"Now the dust is settling, in this period of transition lenders must continue investing in technology that delivers faster, smarter decision-making. The ability to scale and support borrowers will be essential as the market responds to a newly defined policy landscape.”
Jason Tebb, president of OnTheMarket, commented: “The uptick in transaction numbers is perhaps surprising given the uncertainty surrounding the housing market at the time but illustrates its resilience in the face of wider economic and political concerns.
"The series of interest rate reductions over the past 16 months has provided reassurance for buyers and sellers, and improved affordability. This month’s rate hold suggests a stable rate environment which is further helping buyers plan ahead.
"With the Budget out of the way, uncertainty has been removed. Buyers and sellers can make decisions with confidence and proceed with transactions without worrying as to what may be round the corner. While it is a shame that a chance was missed to provide some impetus to the market via support for first-time buyers and to boost transactions, the market’s dogged resilience continues.”
Mark Harris, chief executive of mortgage broker SPF Private Clients, added: “Transaction numbers picked up in October as stability and consistency, as far as interest rates are concerned, encouraged buyers and sellers to press ahead with their plans.
“Lenders continue to trim their mortgage rates, a trend we expect to see more of in coming weeks, but they are likely to edge down rather than fall significantly. With perhaps two or three further base rate cuts expected by the markets, it’s good news for borrowers planning a move or remortgage in early 2026. While the era of rock-bottom rates has passed, most have adjusted to paying more for their borrowing."
