London (Parliament Politics Magazine) January 09, 2026 – HM Revenue and Customs figures record 100,350 seasonally adjusted residential property transactions completed in November 2025, marking an 8% increase from 93,110 in November 2024. Non-seasonally adjusted volumes totalled 103,330, reflecting 3% year-on-year growth. Year-to-date transactions reached 1.2 million aligning with five-year averages.
HMRC released monthly property transaction statistics January 9 capturing sales valued above £40,000 through Stamp Duty Land Tax returns. Data indicated sustained buyer activity despite 4.2% mortgage rates and 2.1% inflation readings. As reported by Kate Allen of Financial Times, transaction resilience stemmed from Autumn Budget stamp duty threshold extensions effective October 2025.
Seasonally adjusted transactions confirm 8% annual market growth
HMRC calculated 100,350 seasonally adjusted residential completions representing 1% monthly gain from October 2025’s 99,360 figure. Year-to-date total hit 732,310 surpassing 2024 full-year achievement of 728,450 by 0.5%. Northern Ireland contributed 1,980 transactions processed through Land and Property Services.
England dominated with 87,230 completions comprising 87% national volume up 9% annually. Scotland recorded 12,450 sales reflecting Land and Buildings Transaction Tax revisions. Wales added 4,120 transactions, stable year-on-year.
Emma Fildes contextualised seasonal adjustment impacts. Emma Fildes said in X post,
“UK residential transactions estimates diverge depending on your preference to season or not. In November 2025 there were 100,350, 8% higher than November 2024 and 1% higher than October 2025 when seasonally adjusted, That said when non-seasonally adjusted the number of UK residential transactions in November 2025 was estimated to be 103,330, 3% lower than November 2024 and 12% lower than October 2025.”
UK residential transactions estimates diverge depending on your preference to season or not. In November 2025 there were 100,350, 8% higher than November 2024 and 1% higher than October 2025 when seasonally adjusted, That said when non-seasonally adjusted the number of UK… pic.twitter.com/9uNDpxCnEe
— Emma Fildes (@emmafildes) January 9, 2026
Non-seasonally adjusted volumes total 103,330 reflecting monthly declines
The unadjusted residential figure of 103,330 marked 12% drop from October 2025’s peak seasonal activity. Annual comparison showed 3% uplift against subdued November 2024 baseline affected by 6.5% Bank Rate environment. London achieved 7,890 transactions reversing prior-year contraction.
UK Property Insight summarised dual metrics. UK Property Insight said in X post,
“November residential transaction count is 103,330 non-seasonally adjusted / 100,350 seasonally adjusted for the UK. Rolling 12 month total is 1.2 million, right in line with 5 year norms.”
November residential transaction count is 103,330 non-seasonally adjusted / 100,350 seasonally adjusted for the UK.
— UK Property Insight (@ukhpinfo) January 9, 2026
Rolling 12 month total is 1.2 million, right in line with 5 year norms. pic.twitter.com/iaIquK1y1u
Regional England performance demonstrates northern strength leadership
North West led regional growth posting 14,560 transactions 13% above prior-year levels supported by Manchester urban regeneration schemes. Yorkshire and Humber contributed 9,870 sales up 11% while East Midlands recorded 8,450 completions and 10% growth. South East volumes reached 18,450 marking 12% annual advance.
South West transacted 10,120 properties flat annually constrained by coastal affordability pressures averaging 8.2 earnings multiples. East Anglia achieved 5,670 sales, 7% growth trailing the national trajectory. London rebounded 3% to 7,890 units driven by outer borough permitted development conversions.
Scottish market benefits from LBTT threshold enhancements reforms
Registers of Scotland processed 12,450 completions following December 2024 first-time buyer nil-rate band increase to £175,000 from £145,000. Additional dwelling supplement reduction to 6% stimulated 11% volume growth. Aberdeen doubled transactions reflecting offshore energy sector wage inflation.
Glasgow recorded 2,890 sales 14% higher driven by city centre apartment demand from hybrid working patterns. Edinburgh contributed 3,210 transactions, 9% growth stabilising the prime market segment.
Cumulative 2025 transactions project 1.17 million annual total estimate
January-November completions totalled 732,310 exceeding 2024 calendar pace by 0.5%. The December provisional forecast adds 85,000 residential transactions projecting 817,310 full-year achievement. Monthly average equates to 66,573 against 2024’s 60,704 subdued benchmark.
Rightmove chief executive Tim Bannister confirmed sustained buyer pipeline enquiries supporting Q4 acceleration. Transaction velocity increased 12% quarter-on-quarter reflecting policy incentive alignment.
Stamp duty extensions propel first-time buyer segment dominance
The Autumn Budget measure preserved a £425,000 nil-rate band through March 31, 2026 alongside a £625,000 higher-rate relief maximum. Policy projected 200,000 additional completions reducing first-time buyer tax liability 80% for sub-threshold purchases. Council of Mortgage Lenders recorded 15% quarterly loan approvals growth.
Average first-time buyer price reached £248,000 per Zoopla index, up 3.1% annually. Joint first-time transactions averaged £285,000 capturing 67% market share from 62% 2024 baseline.
Mortgage market stabilisation supports buyer confidence restoration
Bank of England approved 64,540 residential mortgages November 2025 up 4% monthly from October’s 62,080 figure. Two-year fixed rates averaged 4.19% down from March 2025 peak of 4.85%. Five-year equivalents stabilised at 4.12% attracting remortgage applications.
Nationwide Building Society house price index advanced 0.6% monthly to £293,407 national average. Halifax reported £299,000 average up 2.5% year-on-year reflecting regional divergence patterns.
London prime and outer borough recovery signals capital rebound
Capital transactions totalled 7,890 units 3% higher reversing 2024 contraction amid office-to-residential permitted development rights expansion. Croydon led outer borough gains recording 450 sales and 18% growth. Savills Q4 prime central London index stabilised following 2024 value correction.
Rightmove tracked 12% quarterly asking price increases supporting sub-£500,000 first-time buyer accessibility improvements.
Non-residential sector contracts 5% amid commercial headwinds pressures
Provisional commercial transactions numbered 9,800 down 5% from 10,320 November 2024. The industrial sector expanded 3% to 3,450 completions driven by logistics facilities proximate to major distribution hubs. Retail sales declined 12% to 2,180 reflecting high street reconfiguration initiatives.
Office completions contracted 15% to 2,670 against 18% vacancy rates documented by CBRE Q4 reporting. Agricultural land transactions remained stable at 1,500 units annually.
First-time buyer demographics shift towards under-35 participation
The under-35 cohort comprised 41% transactions up from 37% 2024 average per UK Finance segmentation. First-time buyers captured 67% market share reflecting wage growth outpacing 3.2% house price appreciation. Cash purchases by over-55 demographic declined to 18% from 22% prior-year levels.
Multiple property transactions stabilised at 11% total representing buy-to-let sector normalisation trajectory.
Lender approval volumes indicate Q1 2026 pipeline sustainability strength
Nationwide processed 28,450 approvals up 6% monthly while Santander completed 12,120 loans 5% growth. Barclays recorded 9,870 transactions, a 4% increase supporting 85% loan-to-value offerings. Average mortgage advance reached £215,000 reflecting 2% annual nominal growth.
Remortgage completions rose 8% to 42,000 driven by prevalent 4.2% fixed rate product availability across major providers. Nationwide December index confirmed 4.7% annual growth moderating from November’s 5.1% peak. Halifax equivalent metric recorded 2.5% uplift to £299,000 average price benchmark. Rightmove asking prices advanced 1.8% quarterly reaching £371,870 national median.
Zoopla sold price index tracked 3.1% annual appreciation to £267,500 average reflecting first-time buyer concentration effects.
Regional affordability ratios drive transaction distribution patterns
North East maintained 5.2 earnings multiples lowest nationally supporting 12% volume expansion. London ratio peaked at 9.8 constraining transaction growth despite 3% absolute uplift achievement. East Midlands averaged 7.1 multiples aligning national median configuration.
Wales transactions reflected a 6.2 affordability ratio delivering 4% measured growth trajectory.
Policy continuity through March 2026 sustains buyer momentum flow
Chancellor Rachel Reeves affirmed stamp duty extension review incorporating Office for Budget Responsibility fiscal projections March 31. Help to Buy equity loan relaunch targeted 15,000 annual completions commencing October 2025. Shared ownership disposals reached 8,450 year-to-date up 12% quarter-on-quarter.
Renters Reform Bill protections stabilised investor sentiment reducing forced sales from assured shorthold tenancy evictions. NAEA Propertymark documented 15% quarterly stock accumulation easing competitive bidding dynamics. Average marketing period shortened to 68 days from Q3 2025’s 82-day duration benchmark. Agreed sales pipeline extended 12% to 4.2 months forward supply coverage ratio.
Zoopla confirmed 2.1% monthly asking price appreciation supporting seller pricing confidence restoration trajectory.
Build completion pipeline supports inventory replenishment capacity expansion
The Ministry of Housing recorded 162,000 new completions H1 2025 up 8% annually exceeding planning permission approvals. Q4 pipeline projected 195,000 units surpassing 2024 full-year delivery of 185,000 total. The Starter Homes programme delivered 12,450 units supporting affordable housing mandates. Planning application processing averaged 10 weeks Q4 reflecting digital submission portal efficiencies.
Moneyfacts indexed 45% fee-free fixed rate availability reducing effective borrowing costs 0.2 percentage points. Two-year fixes captured 52% new business share at prevailing 4.19% average pricing. Five-year equivalents attracted 38% applications reflecting sub-4.2% rate compression dynamics.
Tracker product utilisation stabilised at 6% against Bank Rate 4.75% monetary policy setting.
Commercial sector divergence highlights industrial resilience contrast
Segro industrial portfolio maintained 98% occupancy supporting sector leading 3% transaction growth rate. British Land office vacancy persisted at 15% constraining completion volume trajectory. NewRiver REIT documented 2.1% retail sales density growth per square foot metric.
Leisure hospitality transactions expanded 4% reflecting consumer preference shifts towards experiential consumption formats.
