The number of residential property transactions totalled 103,050 in June, 6% higher than June 2025 and 11% higher than May, the latest HMRC statistics show.
On a seasonally adjusted basis, transactions were 2% higher than June 2025 and marginally higher (less than 1%) than May.
Jason Tebb, president of OnTheMarket, commented: “The uptick in transaction numbers demonstrates the ongoing resilience of the housing market in the face of economic and political uncertainty. Buyers and sellers are adapting to changing circumstances and continuing to proceed with their transactions, rather than stepping back and delaying decisions.
"The steady interest rate environment, with the Bank of England holding base rate at five consecutive meetings, is providing a calming effect. Mortgage rates have edged higher in recent days but there haven't been any dramatic increases.
"Historically, one of the biggest obstacles to transaction activity has been sellers holding out for prices that buyers simply weren’t prepared or able to meet. As expectations become more aligned with market conditions, we should see more properties priced appropriately from the outset, helping transactions progress more quickly and smoothly.”
Richard Pike, sales and marketing director at Phoebus Software, said: "A modest uptick in June's transactions fits with the wider picture we're seeing elsewhere - inflation has cooled more than expected, mortgage approvals ticked up slightly in June's money and credit data, and the year-on-year comparison should be less distorted now we’re 15 months on from last year's stamp duty deadline.
“That said, I'd be cautious about reading too much into one month's improvement. These figures reflect decisions made before recent rate increases, so doesn’t necessarily tell us much about appetite going into the autumn. Buyers and lenders alike are still navigating real uncertainty, and the next few months of data will tell us far more than this one."
Ian Futcher, financial planner at Quilter, added: “It’s worth noting that these transaction figures are inherently backward looking, reflecting deals agreed several months ago. Since then, households have faced renewed geopolitical tensions in the Middle East, a clouded global economic outlook and continued uncertainty around the path of interest rates.
“A clearer picture comes from the wider lending backdrop. The Bank of England’s money and credit data released this week showed net mortgage borrowing rising to £7.7 billion in June from £3.3 billion in May, while approvals for house purchases increased to 58,200. However, approvals remain below the previous six-month average of around 61,400, suggesting that while buyer activity has picked up, the market is still some way from a full recovery.
“The increase in mortgage borrowing and approvals suggests underlying demand remains intact, but the challenge is that many prospective buyers continue to face affordability constraints and uncertainty over the economic outlook, limiting the pace at which activity can recover. While the Bank of England held rates yesterday, many buyers are still looking for greater confidence that borrowing costs will move lower before committing to a purchase.
“While stronger mortgage borrowing activity provides some encouragement that transactions will pick up in the months ahead, approvals remain below recent norms and buyer confidence remains fragile. Until affordability improves and households feel more certain about the outlook, transaction volumes are likely to remain subdued.”
