In response to the HMRC property transactions data published today, Nick Leeming, Chairman of Jackson-Stops, comments:
"Today’s HMRC figures point to a rebound in housing transactions in April 2026, although the rise needs to be viewed in the context of a highly distorted comparison period last year. Activity in April 2025 was unusually subdued after many buyers pulled purchases forward into March to complete ahead of stamp duty changes.
"The figures are another reminder of the extent to which stamp duty continues to drive transaction timing and market behaviour, often obscuring underlying levels of demand. Our research suggests that removing stamp duty land tax for downsizers alone could unlock as many as 500,000 additional homes to market within a year, improving liquidity and easing pressure across the wider housing chain.
"More broadly, today’s data reflects a market that remains active, but increasingly value-driven. Buyers are more price-sensitive than they were a year ago, and activity is most resilient where sellers price realistically and align with current market expectations."
