The end of March 2025 marked the conclusion of the temporary stamp duty relief measures that were originally introduced in September 2022. Many analysts predicted a significant market slowdown following this deadline – but how has the UK property market actually responded? Let’s examine the data and sentiment indicators from April 2025.
Post-Deadline Market Activity
Contrary to pessimistic predictions, the property market has shown remarkable resilience following the stamp duty changes. According to a recent survey from GetAgent, while 18% of estate agents reported a decline in buyer enquiries after the deadline passed, 33% actually noted an uptick in market activity, with the remaining 49% seeing consistent levels of interest.
On the seller side, the picture is similarly positive, with 38% of agents reporting an increase in seller enquiries despite the end of the stamp duty holiday. This suggests that many potential sellers who had been holding back are now entering the market.
The ValPal network reported that in April, a total value of £24.3 billion worth of property had been researched using their online valuation tool – a figure higher than both February and March 2025. This demonstrates continued appetite among homeowners considering selling in the near future.
Buyer Offer Activity
The GetAgent survey revealed some interesting insights regarding offer activity:
- 10% of agents noted an increase in offers being made
- 51% reported the same level of offers as before the deadline
- 38% saw a reduction in offers
While there has been some cooling in offer activity, the fact that over 60% of agents are seeing stable or increased offers is a positive indicator for market health.
Buyer Sentiment & Confidence
The latest client survey from Savills, released in mid-April, suggests that sentiment ticked up in March as the market absorbed the political and fiscal changes of the past year. Buyer intention to move in the next 3-6 months and the net balance of those reporting increased budgets were both at levels comparable to March 2024, before the general election.
Most encouragingly, the percentage of buyers claiming their budgets had increased was the highest reported since August 2022, indicating growing financial confidence among potential purchasers.
![Chart showing commitment to move over next 6-24 months]
Price Achievement Metrics
Hamptons reports that contrary to expectations, they haven’t seen an increase in buyers successfully negotiating bigger discounts following the stamp duty deadline. In fact, they report that the average property in England & Wales sold for 99.0% of its final asking price in the first quarter of 2025 – the second strongest asking-to-achieved value recorded in the first quarter of any year since their records began.
This compares favorably to the first quarter of 2024, when the typical home sold at a 1.6% discount, suggesting stronger buyer commitment and less room for negotiation despite the tax changes.
Consumer Confidence Indicators
While market activity has remained resilient, broader consumer confidence metrics present a more mixed picture:
- The Building Societies Association (BSA) Property Tracker survey reveals that just 17% of people believe now is a good time to buy a property, down from 20% in January 2025.
- More than double this number (38%) disagree with the statement that now is a good time to buy.
- Despite this hesitancy, almost half (46%) of respondents expect prices to continue rising over the next 12 months, with just 13% forecasting price falls.
This conflicting data suggests a market where consumers see continued price growth but feel increasingly challenged by affordability constraints.
Impact of Household Finances
Barclays Property Insights data shows that homeowners who purchased in the last year reported needing an additional £13,530 on average to cover expenses associated with buying a home – a marked increase from the £9,337 cited among those who purchased more than five years ago.
Housing costs now make up 28% of income across the UK, rising to over a third (36%) amongst renters. Nearly three-quarters (73%) say these expenses have risen in the last 12 months, averaging an extra £126 per month, or £1,516 a year.
As a result of rising costs and stamp duty changes, confidence in household finances dropped to 70% in March from 75% in February. Similarly, confidence in the UK housing market fell slightly to 28% from 30%.
Outlook for First-Time Buyers
The combination of high fees and household bills appears to have impacted renters’ homeownership aspirations, with just one in six (16%) currently believing that buying a property is within reach in the next five years, down from 23% month-on-month.
However, as mortgage rates continue to moderate, there remains a window of opportunity for first-time buyers, particularly if they can access family support for deposits.
Conclusion
The post-stamp duty deadline market has defied the most pessimistic predictions, with transaction volumes and buyer enquiries remaining robust. While consumer confidence has softened somewhat, the fundamental desire to move home remains strong, supported by positive wage growth and an expanding range of mortgage products.
The market appears to be settling into a new normal characterized by more realistic pricing, stable transaction volumes, and a gradual shift toward more balanced conditions between buyers and sellers. The coming months will reveal whether this resilience can withstand further economic challenges, including the potential impact of global tariff policies on the UK economy.
