Anecdotally, in the last few weeks we are starting to hear some negativity around property transactions due to the impact of the Iran/US war.

According to Chris Watkin: “UK home sales fell by 10.4% in June in every region, with the latest week showing a softer picture for the UK property market.” But he goes on to explain that although sales have undoubtedly lost momentum year on year, this is compared to a particularly strong June in 2025.

Transaction wise, Chris explains that sales are operating below last year’s peak, but broadly alongside 2024 and still comfortably ahead of 2023.

Zoopla also explain that from their data and time they are measuring transactions in the market, a really interesting trend is occurring – despite buyer demand being down, sales are still doing well because the home movers in the market are committed.

This trend is particularly stark in the North East where they report that: “Home sales are up 6% on last year despite buyer demand being 20% lower, the sharpest drop of any region. However there has been no increase in homes for sale, which means supply is being absorbed quickly.” This explains why it’s one of the areas that are seeing average price gains.

In contrast, in London, sales agreed are up 8% on last year, the strongest of any region. House price inflation has stabilised over the last six months of falls, but because there are 13% more homes for sale than a year ago, buyers still have plenty of choice and house price inflation is forecast to remain subdued.

PropertyMark – Housing Insights Report (April 2026) backs up the Zoopla data, although reports that buyer demand is static as opposed to falling and the picture is summarised in their report by Phil Spencer, Founder of Move iQ.

He explains: “For consumers, the picture is one of opportunity mixed with realism. Buyers are benefiting from a gradual increase in the number of homes coming onto the market, which means more choice and slightly less pressure than we’ve seen in previous years. However, with mortgage affordability still stretched for many households, it’s more important than ever to understand your budget and be prepared to act when the right property comes along.

“Sellers should take confidence from the fact that transaction levels remain healthy, but pricing accurately is crucial. The vast majority of homes are still achieving below their original asking price, showing that buyers remain value-conscious.”

Halifax

 – MRC monthly property transaction data – UK home sales fell in April 2026. UK seasonally adjusted (SA) residential transactions in April 2026 totalled 101,030 – down by -3% from March’s figure of 103,910.
 – Quarterly SA transactions (April 2026 to June 2026 provisionally) were approximately +1.0% higher than the preceding three months (January 2026 to March 2026). (Source: HMRC).
 – Latest Bank of England figures show the number of mortgages approved to finance house purchases increased in April 2026 by +3.1% to 65,945, the highest level since January 2025. Year-on-year the figure was +9.0% above April 2025. (Source: Bank of England, seasonally-adjusted figures).
 – The April 2026 RICS Residential Market Survey reflects a challenging macroeconomic environment, with rising interest rate expectations dampening buyer demand. New buyer enquiries remained negative at ‑34% in April, though slightly improved from March (‑40%). Agreed sales were largely unchanged at ‑36% (vs. ‑35%), while new instructions increased slightly to ‑3% (from ‑6%), signalling limited fresh supply to the market. (Source: Royal Institution of Chartered Surveyors (RICS) monthly report).