28 March 2025
If you are covering the latest monthly property transactions, please see the following comment from Thomas Lambert, financial planner at Quilter:
The property market has clearly sprung into action, with residential transactions jumping 28% year-on-year and 13% compared to January. A big driver behind this flurry of activity is the looming change to Stamp Duty in April, which is pushing buyers to get their deals done before tax bills rise. We’d expect to see March’s figures climb even higher as more people race to complete in time.
From April, the Stamp Duty thresholds will fall back down meaning many buyers, particularly first-time buyers, will face a bigger upfront cost. That deadline pressure is helping to inject some momentum into the market, but the real test will come next month. Once the new rules kick in, we’ll get a clearer sense of whether demand holds up or starts to stall.
There was also a nod to the longer-term housing picture in this week’s Spring Statement, with the government announcing a £2 billion boost to the Affordable Homes Programme. More housebuilding is essential if we’re going to prevent prices from spiralling further and making affordability even worse—so that investment is welcome, even if it’s unlikely to shift the dial overnight.
Looking ahead to the Autumn Budget, all eyes will be on Labour to see if they offer more help for first-time buyers. But given the limited fiscal headroom they’re working with, any big giveaways seem unlikely for now.
