Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property Industry Eye. Read the original article for full details.

Latest HMRC Figures Highlight Ongoing Calls for Homebuying Reform

HM Revenue & Customs (HMRC) has reported a marginal increase in UK residential property transactions for June, with estate agents renewing calls for government reform of the homebuying process. The figures show that while buyer demand remains steady, the length and complexity of transactions continue to challenge the market.

According to HMRC, there were 98,700 seasonally adjusted residential property transactions in June, up slightly from 98,460 in May. This activity is also 2% higher than the same period last year, when buyers were completing purchases ahead of changes to stamp duty thresholds in England and Northern Ireland.

Estate agents have highlighted that, despite stable demand, the process of buying and selling homes is taking longer than expected. Calls have been renewed for the Government and Housing Secretary Angela Rayner to prioritise reform of the transaction process. The aim is to improve speed, transparency, and predictability for both buyers and sellers.

Nick Leeming, chairman of Jackson-Stops, noted that the market is moving at a measured pace, with households taking more time to make decisions due to higher borrowing costs and economic uncertainty. Leeming emphasised the need for reforms that would provide greater certainty and efficiency in the transaction process, supporting a more fluid housing market.

Nathan Emerson, CEO at Propertymark, also commented that the increase in property transactions is an encouraging sign of continued confidence among buyers and sellers. Emerson stressed that healthy transaction levels are important for the housing market and the wider UK economy, but noted that ongoing policy discussions around stamp duty, council tax, and broader housing proposals have created uncertainty for consumers.

For letting agents and inventory clerks, these developments underline the importance of a streamlined and predictable homebuying process, which can help maintain market activity and support the wider property sector.