David Fell, lead analyst at Hamptons, said: “Today’s HMRC data shows that falling mortgage rates pushed transactions up 10% between 2024 and 2025. This meant slightly more people bought last year than the long-term, pre-covid average.
“Aside from the 2021 and 2022 boom, more homes were sold in 2025 than in any other year since 2017.
“Even with a fairly healthy number of homes sold nationally, estate agents in the north of the country enjoyed the year much more than those in the south.
“But every market saw more homes sold in the second half of 2025 than in the first half as mortgage rate cuts gathered pace, outweighing the hit from the end of the Stamp Duty holiday.
“These lower rates tempted many who had been sitting on their hands to make their move, particularly those who had been savouring the final months of their cheap deals.
“And with the record number of five-year fixed mortgages taken out in 2021 expiring this year, many homeowners will reassess where they want to live. 2026 may well turn out to be a busier year than 2025.
“Sub 4% rates will also tempt some landlords facing falling returns from their savings accounts to keep a watchful eye open for new opportunities.”
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