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Monthly property transactions soar in February ahead of SDLT change: "Everyone loves a bargain, that much is clear"

ended 28. March 2025

Figures for seasonally adjusted residential transactions saw a considerable increase in the lead up to the change in Stamp Duty Land Tax rates in April 2025, new data published by HMRC has shown today (key points below). Newspage asked brokers and property experts whether they have seen evidence of this rush, bottom.

  • the provisional seasonally adjusted estimate of the number of UK residential transactions in February 2025 is 108,250, 28% higher than February 2024 and 13% higher than January 2025
  • the provisional non-seasonally adjusted estimate of the number of UK residential transactions in February 2025 is 90,430, 24% higher than February 2024 and 10% higher than January 2025
  • the provisional seasonally adjusted estimate of the number of UK non-residential transactions in February 2025 is 10,090, 1% higher than February 2024 and 8% higher than January 2025
  • the provisional non-seasonally adjusted estimate of the number of UK non-residential transactions in February 2025 is 8,800, 2% lower than February 2024 and 4% higher than January 2025
     

9 responses from the Newspage community

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Editor
Stephen Perkins
Managing Director at Yellow Brick Mortgages
Everyone loves a bargain, that much is clear. With the impending Stamp Duty increase, homebuyers were keen to not miss out. Of course, April will later show record numbers of withdrawals as those that failed to beat the deadline scrap the whole idea of moving, so the ying and yang will remain in balance.
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Daniel Hobbs
CEO at New Leaf Distribution
Buyers have clearly been busy in the months leading up to the Stamp Duty deadline. This does tie in with what brokers are reporting on the ground. The savings on offer will have made a huge difference to many buyers and they clearly incentivised people to act.
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Katy Eatenton
Mortgage & Protection Specialist at Eatenton Finance
It’s been a very busy start to the year. However, what it has amplified is the need for a massive overhaul in the conveyancing process and the quality of conveyancers, with many letting down buyers and sellers across the board.
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Michelle Lawson
Director at Lawson Financial
The forecast Stamp Duty cliff edge has created untold pressures for all those involved and many, sadly, will lose out. While the savings have been there for buyers, this will now just adjust. Hopefully service standards and the market will also level off to bring some stability back.
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Chris Barry
Director at Thomas Legal
We have seen a number of SDLT cliff edges over the past few years and they have always proven to spark high levels of increased activity. The VAT receipts generated by the uplift in activity is understood to outstrip the income from SDLT and therefore it does beg the question whether. SDLT should be revised. We have seen a 25% uplift in new activity and completed matters over the past 3 months which has been welcomed given the suppression of activity the year prior due to uncertain borrowing rates.
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Andrew Montlake
CEO at Coreco
The prospect of saving thousands of pounds clearly lit a fire under aspiring buyers. We have seen strong demand for property during the past six months ahead of the Stamp Duty deadline. The cliff edge may now be mitigated slightly by Santander adjusting its affordability criteria, as other lenders are likely to follow suit. This could see demand once again go through the gears. There's life in the property market yet.
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Justin Moy
Managing Director at EHF Mortgages
Activity has been brisk since the Stamp Duty increase was announced, however any increased activity seen since the October budget will be offset with an expected lull in transaction numbers from April. Canny buyers will look to grab a bargain in the coming months, as those selling may need to reduce prices, whilst lenders have started to offer cashback deals to entice buyers, filling the financial void created by this change in Stamp Duty policy.
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Pete Mugleston
Mortgage Advisor & Managing Director at onlinemortgageadvisor.co.uk
We’ve definitely seen a noticeable uptick in activity as buyers rushed to complete before the stamp duty threshold changes in April. First-time buyers, in particular, were keen to lock in savings while they still could. The data reflects what many of us felt on the ground – solicitors and brokers under pressure to push deals through quickly. While demand may now ease slightly, this flurry highlights how sensitive the market remains to tax policy changes.
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Sean Horton
Managing Director at Respect Mortgages
The race is on! These figures confirm what we're seeing on the ground - buyers are rushing to beat April's stamp duty changes.

This 28% year-on-year jump isn't surprising but still impressive given the economic backdrop. First-time buyers are particularly keen to complete before the threshold drops.

It's tough out there for all buyers, especially FTBs facing sky-high prices. Many are pinning hopes on imminent interest rate cuts to ease affordability pressures.

What happens post-April? Inevitably there will be a sharp drop in transactions, but the property market is very robust, so it will soon be back to business as normal.