ONP Solicitors comment on today's property transaction data

27 June 2025

Sharon Beedham, relationship director at ONP Solicitors, commented:

“The uptick in residential transactions for May is no surprise. Buyers rushed to complete ahead of April’s Stamp Duty threshold changes, resulting in an April slowdown followed by a strong May rebound – clearly demonstrating that tax policy continues to have a significant pull-forward effect on buyer behaviour.

"At the same time, while residential numbers are up month-on-month, the 12–13% year-on-year decline shows the market is also still grappling with broader affordability pressures and economic uncertainty.

“The sector needs consistency and clarity from policymakers to support sustained confidence. We’re seeing that when the rules shift, so does momentum, resulting in inevitable spikes in demand which often present a challenge for many in the sector. It will be interesting to see if activity can be sustained through the second half of the year without the crutch of temporary tax incentives."