Property transaction trends are broadly in line with expectations, after the latest HMRC residential transaction numbers revealed a seasonally adjusted estimate of 101,030 transactions in April

Property transaction trends are broadly in line with expectations, after the latest HMRC residential transaction numbers revealed a seasonally adjusted estimate of 101,030 transactions in April, 3% lower than last month.

While the impact of the Middle East conflict continues to play a part in inflation and consumer confidence, there is still strong intent amongst households to move home, according to Richard Donnell.

The executive director of Zoopla said: April saw a 3% fall in completed home sales versus March which is in line with previous years as households rush to complete sales before Easter each year.

Overall, housing sales in April were running 3% ahead of the previous 12 months as the number of housing sales increased from the low of 2023 when activity was hit by higher mortgage rates. We expect housing sales to end 2026 at close to 1.2 million – the 20 year average and a healthy position given the impact of higher mortgage rates and economic uncertainty, he said.

Jason Tebb, president of OnTheMarket, said the slight dip suggests consistent resilience from the housing market in the face of economic and political uncertainty.

Rather than stepping back and delaying decisions, buyers and sellers are mostly adapting to change and continuing to progress with their transactions, he explained.

The steady interest rate environment, with the Bank of England holding rates at recent meetings, suggests a welcome calm and considered approach while inflation is monitored. At the same time, lenders continue to trim their mortgage pricing, which is helping ease affordability and is particularly welcome as the cost of living remains high, he said.

Sellers have plenty of choice with more stock coming to the market, which is putting them in a strong negotiating position. This is helping keep property prices in check, which should also assist in improving transaction numbers, he said.