According to HMRC, there were 64,680 residential transactions in April 2025, 28% lower than April 2024 and 64% lower than March 2025.
On 1st April, the nil-rate stamp duty threshold, which had been £250,000, returned to the previous level of £125,000. The nil-rate threshold for first-time buyers also fell, from £425,000 to £300,000. The fall in sales for April follows a spike in March, probably brought forward to take advantage of the higher thresholds in March.
Nick Leeming, chairman of Jackson-Stops, said: “The strength of activity in March 2025 has led to a natural recalibration in April. But there remains reasons to be positive, with the IMF’s upgraded 2025 UK growth forecast and the Bank of England’s recent base rate cut underpinning greater confidence from buyers.
“Across the Jackson-Stops network, we continue to see demand outpacing supply with, on average, five potential buyers competing for every new listing, in April.”
Andrew Lloyd, managing director at Search Acumen, added: “The long Easter break marked an end to the Stamp Duty holiday and the surge in transactional activity that kicked off the year.
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“But across the market we are still seeing a strong appetite for deal flow and a demand for bricks and mortar that will continue to resonate throughout the upcoming months.”