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

UK Property Market Sees Second Consecutive Month of Falling Deal Numbers

The UK residential property market has recorded a second consecutive month of falling transaction numbers, according to new HMRC data reported by The Negotiator. Seasonally adjusted residential property transactions in May dropped by 2% compared to April, falling from 100,440 to 98,450.

The data shows that the number of deals in May was 17% higher than in May 2025, a period that was heavily affected by the end of a Stamp Duty threshold in April of that year. However, the market has not experienced the usual seasonal increase in activity, with the latest figures indicating a continued slowdown.

Non-seasonally adjusted residential transactions increased by 7% in May compared to April, suggesting some variation in market activity depending on the measurement method. The previous month’s HMRC data had also shown a 3% fall in transactions, with numbers dropping from 103,910 in March to 101,030 in April.

Industry commentary included in The Negotiator’s report highlights the absence of a typical seasonal bounce and ongoing uncertainty in the market. Factors such as global events, mortgage rates, and domestic political uncertainty are noted as influencing current market conditions. The report also mentions that well-priced homes continue to attract interest, but maintaining momentum will depend on improving housing supply and providing greater certainty for consumers.

For letting agents and inventory clerks, these trends may signal a period of reduced transaction volumes and increased caution among buyers and sellers. The ongoing economic and political factors could continue to impact the pace of the market in the coming months.