This was a marginal month-on-month decrease for the third month in a row, falling by less than 1% from 90,610 in July 2024, on a seasonally adjusted basis.
On a non-seasonally adjusted basis, sales were also up, by 8% on the previous month and by 10% annually.
Ryan McGrath, director of second charge mortgages at Pepper Money, said: “Today’s HMRC transactions data reveals an encouraging uptick in transactions annually. Homeowners and prospective buyers are capitalising on more favourable lending conditions, highlighting the crucial role that timing and affordability play in market dynamics.
“Last month’s interest rate reduction – the first such cut since the onset of the Covid-19 pandemic – has catalysed a step change amongst homebuyers. This positive momentum will likely continue over the coming months.”
Nick Leeming, chair of Jackson-Stops, added: “A notable 5% rise in transactions this month, compared to a year ago, demonstrates the demand we’re witnessing across the housing market.
“This growth is partly driven by greater choice in mortgage products and rising buyer confidence, further supported by last month’s interest rate cut by the Bank of England – the first since 2020.
“As transaction data often lags behind real-time sentiment, we expect this positive momentum to carry through for the rest of the year.”
