Non-residential transactions showed a smaller shift. Seasonally adjusted figures for May were marginally higher, by less than 1%, than in April, and marginally lower, by less than 1%, than in May 2025. Non-seasonally adjusted non-residential transactions fell by 5% month-on-month.
“Today’s HMRC figures showing an increase in housing transactions are an encouraging sign that activity is continuing to build, despite a market that remains shaped by affordability pressures and cautious buyer sentiment,” said Nick Leeming (pictured right), chairman at estate agency Jackson-Stops.
“Across our network, we saw both new listings and buyer viewings increase throughout May, reflecting growing confidence among those looking to move. While buyers remain selective and negotiations are taking longer than they have in recent years, there is clear evidence that underlying demand remains resilient where homes are priced appropriately and sellers are prepared to meet the market.”
Leeming noted that momentum was greatest in family and lifestyle markets, with upsizers driving a significant proportion of activity as households prioritise space, flexibility and long-term value.
“Although conditions remain more measured than during the post-pandemic market, today’s figures suggest the market is gradually finding a more sustainable rhythm, underpinned by realistic pricing, improving supply and motivated buyers,” he added.