Property sales numbers hit by summer lull in July

Property sales in Britain dipped this summer, HMRC data suggests.

The latest property transactions data published by the taxman shows that that on a seasonally adjusted estimate, the number of residential transactions in July 2026 was 96,710 – 1% lower than July 2025 and 2% lower than June 2026.

It comes after property transaction levels had looked like they had recovered in June, following two successive months of decline.

The figures look better on a non-seasonally adjusted estimate at 106,620 – 5% higher than July 2025 and 3% higher than June 2026

Nick Leeming, Chairman of Jackson-Stops, says: “July’s small decrease does little to alter the wider picture of a market maintaining its footing through the summer. Following June’s marginal increase, broadly stable transaction levels are characteristic of a period when holidays naturally interrupt activity, and some households defer decisions until the autumn.

“In these conditions, local expertise matters more than ever. A quality agent can help sellers distinguish between short-term seasonal noise and the underlying evidence in their area, while bringing the judgement needed to set a credible strategy, handle negotiations constructively and keep a transaction moving when chains become more complex.

“The appetite to move is certainly there, with our data showing that 8% of owner-occupiers in England are planning to move or already doing so. Sellers can best capitalise on that demand by pricing against current market evidence, not to leave value on the table, but to attract serious buyers, generate competition and achieve the strongest possible result.”

Richard Donnell, Executive Director at Zoopla, says:”Completed housing sales have been holding steady so far this year but they are set to drop lower in the second half of the year as a result of higher mortgage rates since the Spring which have reduced buying power by 9% compared to the start of the year.

Sales being agreed now, five to six months before completion, are down 6% on last year but there are clear signs of a rebound in buyer interest as we start the autumn. Searches for homes are up 7% year on year and the strongest for a year  – it is still a buyers market as there are plenty of homes for sale.”

Jason Tebb, President of OnTheMarket, says: “The ongoing uncertainty created by the Middle East conflict and its impact on energy prices and interest rates continues to dampen activity.

“However, the market’s underlying resilience remains in evidence. Buyers and sellers who need to move regardless are adapting to changing circumstances and continuing to proceed. The Bank of England’s decision to hold interest rates this year, coupled with a number of lenders easing mortgage pricing in recent weeks, is helping with affordability at a time when the cost of living remans high.

“The slowdown in annual growth in average property prices suggests expectations are becoming more aligned with market conditions. If the stock coming to market in the autumn is priced appropriately from the outset, this should help transactions progress more quickly and smoothly.”

Amy Reynolds, head of sales at estate agency Antony Roberts, says: “There are noticeably low stock levels, which is creating a bit of competition over certain new instructions.

“There remains more supply than demand when it comes to smaller flats, although over the summer we have been agreeing more flat sales and have definitely felt there is more life in the market.

“We hope that the market continues to gather momentum and doesn’t prematurely slowdown in advance of the Budget – and of course that the Budget doesn’t further derail the property market but focuses on its recovery so that people feel free to move.”