30th Sep 2025 10:08
(Alliance News) - The number of house sales in August was 2% higher than in the same month a year earlier, according to HM Revenue & Customs, HMRC, figures.
Across the UK, an estimated 93,630 home sales took place in August 2025, which was 2% higher than August 2024 but 2% lower than the number of sales recorded in July 2025.
The sales dip compared with July followed three months in a row of increases, the report said.
In an indication of mortgaged home purchases in the pipeline, the Bank of England said on Monday that 64,680 mortgages for house purchase were approved in August, down from 65,161 in July.
Mark Harris, chief executive of mortgage broker SPF Private Clients, said: "Some lenders have been raising their mortgage rates slightly while others have been tweaking downwards, and borrowers on the whole have got used to this higher rate environment."
Ryan McGrath, director of second charge mortgages at Pepper Money, said: "Property transactions have shown modest but steady growth, remaining positive on an annual basis.
"However, there's a noticeable shift in sentiment among homeowners, many of whom, in more predictable market conditions, might have already made decisions to move. Today, economic uncertainty and the financial impact of expiring fixed-rate deals, particularly those secured before 2022, are prompting a reassessment of priorities."
Nick Leeming, chair of Jackson-Stops, said: "The market remains sensitive to economic events and international decisions, but the easing of mortgage costs has helped to restore confidence."
Richard Donnell, executive director at Zoopla, said: "Looking ahead, we expect transaction volumes to remain in line with current levels."
Nathan Emerson, CEO at property professionals' body Propertymark, said: "People need to feel a greater degree of confidence as they approach their next house move, and continued economic uncertainty and high interest rates have no doubt deterred some consumers from doing so.
"With interest rates slowly edging back downward, which has helped improve mortgage products on offer, and with house prices showing initial indications that they are starting to soften as we head into autumn, we now look to the Budget in November and next Bank of England decision on the base rate, as both of these factors will play a big part in determining the level of confidence people have moving forward."
By Vicky Shaw, PA Personal Finance Correspondent
Press Association: Finance
source: PA
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