UK residential property transactions rose 5 percent year-on-year in December 2025, with 100,440 completions recorded on a seasonally adjusted basis, according to the latest HMRC data.
The figures, published today, show transactions marginally lower than November 2025 by less than 1 percent, but mark a solid annual gain as the market absorbed post-Budget uncertainty.
First-time buyer uplift
Nathan Emerson, chief executive of Propertymark, said the data showed resilience in housing completions as the market entered 2026.
“It has been pleasing to see Propertymark member agents report what has been an uplift in the number of first-time buyers completing on a property when comparing figures both month on month and year on year,” he said.
Emerson added that key elements of the housing market were moving in better harmony. “Earlier this month, we observed the rate of inflation dip downwards to 3 percent, giving hope the Bank of England may feel confident enough to potentially lower the base rate next month when the Monetary Policy Committee next meet.”
Pre-Budget completions
Nick Leeming, chairman of Jackson-Stops, said December’s data largely reflected deals agreed before the November Budget, as HMRC figures are completion-based and typically lag agreements by several months.
“Beneath the surface, buyer interest was strong in December 2025,” Leeming said. “Our branch data shows new applicant registrations up on the previous year, with some locations, particularly coastal markets, seeing numbers double.”
Looking ahead, Leeming expects buyer demand to return towards 2024 levels. “The market is set for a modest, sustainable uplift, underpinned by improving demand, realistic pricing and available stock.”
The full HMRC property transactions report is available on gov.uk. Separate data this month showed SDLT receipts rising as investors absorbed threshold changes.
Editor’s view
A 5 percent annual rise in completions suggests the market held up better than many feared through the Budget period. For landlords, the more pressing question is whether transaction momentum continues into spring as stamp duty changes take full effect.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 27 February 2026
Sources: HMRC, Propertymark, Jackson-Stops
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