30 October 2026
If you’re covering the latest UK monthly property transactions data, please see the following comment from Ian Futcher, financial planner at Quilter:
“UK residential property transactions stood at 94,800 on a seasonally adjusted basis in September, around 1% lower than August and 4% below the level recorded a year earlier.
“These figures show a housing market that was losing some momentum even before the measures announced in this week’s Budget. However, transactions are inherently backward looking, reflecting purchases agreed and mortgages arranged several months before completion.
“The more immediate picture remains challenging. Mortgage rates have risen markedly in recent months as inflation concerns have reshaped expectations for interest rates. Higher borrowing costs are making buyers more cautious, while the greater number of homes available is putting pressure on sellers to price realistically.
“The government’s new Your First Home scheme could provide valuable support for some first-time buyers by reducing the size of the deposit they need to find. However, its focus on new-build properties means it will not solve the wider affordability problem, while stimulating demand without a corresponding increase in supply could place upward pressure on prices. The increase in property income tax may also discourage landlord investment and add further pressure to an already stretched rental market.
“Ultimately, the outlook for transactions will continue to be determined principally by mortgage affordability and consumer confidence. With the Bank of England widely expected to raise rates next week, borrowing costs could come under further pressure before they improve. That will do little to encourage buyers sitting on the sidelines, meaning any recovery in transaction activity is likely to remain gradual and uneven.”
