Latest HMRC statistics are a ray of hope for the property market
HMRC’s latest statistics are good news for the property market, as transactions are starting to climb back up after the distortion caused by the Stamp Duty Land Tax (SDLT) change, say leading audit, tax and business advisory firm, Blick Rothenberg.
Mark Cunningham, a partner at the firm, said: “HMRC’s latest property statistics are a ray of hope for the market, as they show signs of transaction momentum building when looking at the figures on a six-month average. Price sensitive buyers appear to be becoming less cautious, likely speculating that interest rates may fall in the near term and improve affordability.”
He added: “The SDLT change which came into effect in April 2025 distorted transaction data in recent months, as buyers brought forward completions to avoid additional tax. This resulted in a fall in transactions in April (provisionally 56,610), followed by a recovery in May (provisionally 80,530) as the market began to normalise.”
Mark said: “May 2025 transactions are still down on May 2024 (92,920), likely reflecting the continued impact of that earlier acceleration. But overall, we are seeing the start of what could be a positive change for the property market.”
He added: “However, the potential for tax rises in the budget later this year may suppress that optimism, unless the government sets out its intentions clearly.”