HMRC: Residential property sales rose in September despite impending Autumn Budget
Home sales continue to rise, at least marginally, HMRC data shows.
The taxman’s latest provisional seasonally adjusted estimate of the number
of UK residential transactions in September 2025 is 95,980, 4% higher than September 2024 and 1% higher than August 2025
On a non-seasonally adjusted estimate, the number of UK residential transactions in September 2025 was 102,420, 8% higher than September 2024 and 2% lower than August 2025.
The figures do have a time lag of around two months but many commentators suggests this shows a sign of uncertainty in the build-up to the Autumn Budget.
Nick Leeming, chairman of Jackson-Stops, said:
“The transaction results are indicative of a housing market that has slowed in the run up to the Budget, but remains fundamentally strong driven by lifestyle purchases.
“Sales agreed are up 1% from the month previous, a modest increase but one that indicates market stability. At the top end, many £2 million-plus movers remain in a holding pattern ahead of any possible tax reforms, with calculators in hand to see if a reset in tax could shift the numbers and impact any immediate plans.
“But with every slowdown comes opportunity. We’re seeing more homes on the market than last year; a welcome change for buyers who’ve long been starved of choice over the past two years. Whilst Jackson-Stops’ own national data points to a more selective market, the picture is far from uniform.”
OnTheMarket president Jason Tebb said:
“Pre-Budget speculation over tax changes is creating some uncertainty, although many are proceeding with transactions regardless.
He added: “Any Government efforts to help make the home-buying journey more accessible and affordable are welcome but any changes introduced in next month’s Budget must work for the market as a whole.”
Richard Donnell, executive director at Zoopla said:
”The housing market has the biggest pipeline of sales for four years with 350,000 homes working their way to completion.
“We expect transactions to start to plateau now they are back in line with the long run average of 1.2m sales a year.
“Budget uncertainty is starting to hit new sales agreed over £500,000 which will limit further growth in sales over 2026 unless the Chancellor makes a bold move such as cutting Stamp Duty in the Budget which would boost sales.”
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