"The April drop-off was a predictable response to the surge in market activity seen in March, as buyers moved quickly to benefit from stamp duty incentives before they were withdrawn"
- Colby Short - GetAgent
The UK property market saw a sharp recovery in May, according to new data from estate agent comparison site GetAgent, which shows a 42% rise in property transactions last month, offsetting a 66% drop in activity that occurred in April after the stamp duty holiday ended.
GetAgent.co.uk analysed government data covering residential transactions during the first five months of 2025. The research focused on market trends following the withdrawal of stamp duty relief on 31 March.
In March, UK-wide transaction volumes reached 165,510. This figure dropped to 56,610 in April, reflecting a 66% decline. The sharpest monthly decreases were recorded in England (-71%) and Northern Ireland (-60%), where the stamp duty deadline led many buyers to complete purchases in advance of the cut-off.
In contrast, Scotland and Wales, where no such tax incentive was in place, saw more moderate monthly falls of just 1% and 20% respectively.
By May, the market had begun to recover, with transactions across the UK increasing to 80,530, marking a 42% rise from the previous month. The rebound was strongest in England, where activity climbed by 52%, followed closely by Northern Ireland with a 51% increase. Scotland and Wales again recorded more modest growth at 2% and 8% respectively.
This pattern underscores the short-term impact of fiscal policy on housing activity. The rush to complete transactions ahead of tax changes in March was followed by a temporary slowdown, then a rapid recovery driven by continued demand.
“The April drop-off was a predictable response to the surge in market activity seen in March, as buyers moved quickly to benefit from stamp duty incentives before they were withdrawn,” said Colby Short, co-founder and CEO of GetAgent.co.uk. “What’s telling is how rapidly the market has found its footing again, with both England and Northern Ireland seeing a notable surge in market activity in May.”
Short added that the transaction rebound provides a positive signal for the rest of the year.
“At GetAgent, we’re paid on completion, so we understand how stressful it can be when there’s a sudden drop in transactions and a real impact on the pipeline,” he explained. “That’s why it was so encouraging to see the market bounce back so quickly.
“This rebound suggests that underlying buyer demand remains strong despite changing tax environments and suggests that the overarching strength and stability of the market is likely to persist over the remainder of the year.”
