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UK residential transactions in March 2025 up 104%: "The Stamp Duty deadline put a rocket under transaction levels"

ended 30. April 2025

The number of UK residential transactions in March 2025 was 177,370, 104% higher than March 2024 and 62% higher than February 2025, according to data published by HMRC this morning. Key findings below. Newspage asked property experts for their views, bottom.

  • the provisional seasonally adjusted estimate of the number of UK residential transactions in March 2025 is 177,370, 104% higher than March 2024 and 62% higher than February 2025
  • the provisional non-seasonally adjusted estimate of the number of UK residential transactions in March 2025 is 164,650, 89% higher than March 2024 and 80% higher than February 2025
  • the provisional seasonally adjusted estimate of the number of UK non-residential transactions in March 2025 is 11,200, 12% higher than March 2024 and 10% higher than February 2025
  • the provisional non-seasonally adjusted estimate of the number of UK non-residential transactions in March 2025 is 12,090, 7% higher than March 2024 and 37% higher than February 2025

5 responses from the Newspage community

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Editor
Andrew Montlake
CEO at Coreco
The Stamp Duty deadline put a rocket under transaction levels based on this data. This is no surprise as the prospect of saving potentially thousands of pounds focuses the mind. The problem is the cliff edge these fiscal initiatives can create. Only this morning, for example, the Nationwide revealed house prices fell in April, likely as a result of demand dropping. Looking forward, though, expect transaction levels to remain robust as lenders are proving aggressive at the moment in what is increasingly looking like a rate war as they seek to build their market share. It's looking like a positive summer for the property market right now.
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Daniel Hobbs
CEO at New Leaf Distribution
If you ever wanted proof of how stamp duty initiatives can affect the property market, this is it. Transaction levels went supersonic last month as people raced to beat the clock. Though transaction levels will drop off in the months ahead, with lenders cutting rates across the board activity could remain robust overall.
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Pete Mugleston
Mortgage Advisor & Managing Director at onlinemortgageadvisor.co.uk
These figures are undoubtedly due to the Stamp Duty changes and show just how keen borrowers were to avoid paying the extra tax. The following months are unlikely to follow suit, but the housing market still has plenty of positives for borrowers. With lenders cutting rates left, right and centre, and a likely cut in the base rate next month, it's still a good time to enter the housing market. If rates continue to fall, the rest of the year could be a good one for borrowers and lenders alike, and we should expect an increase on the figures for last year.
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Editor
Tony Redondo
Founder at Cosmos Currency Exchange
March 2025 saw a market frenzy as property buyers rushed to beat April’s higher stamp duty rates, driving UK residential transactions up 104% from March 2024 and 62% from February 2025. The Bank of England's rate cut to 4.5% also fuelled this surge. The Bank of England's May 8 decision is critical—further cuts might inflate this bubble, while systemic issues like 9x earnings affordability and wage stagnation must be tackled to prevent a crash.
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Editor
Chris Barry
Director at Thomas Legal
March completions were exceptional considering the most common saving was £2500, far lower than the previous SDLT deadline. What was most interesting was how new enquiries were also exceptionally high in March. Naturally these clients would not benefit from the saving however the saving promoted the desire for people move their future moving plans forward.