Nick Maud, lead analyst at Connells Group, said: “March’s sales figures look subdued in comparison to the same point last year.
“However this mostly reflects the rush to complete before the end of the Stamp Duty holiday at the end of March-2025.
“March’s total of 104,070 sales point to a healthy market, reflecting a return to confidence amid softening mortgage rates at the start of the year.
“But most of the sales which completed in March, will have been agreed in late 2025 or early 2026, before mortgage rates rose.
“This makes it likely that the number of sales recorded by HMRC will slow in coming months as higher mortgage rates moderate the market.
“But March’s numbers still suggest that 2026 sales are still on target to reach 1.2 million by the end of the year, closely in line with 2025.”
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