The first property trends report of the year from Landmark Information Group reflects ongoing industry positivity following SDLT threshold changes, with continued optimism pointing to a resilient market.
The data from Landmark reveals an overall 30% rise in completions in England and Wales for the first quarter of 2025, with an ‘abnormally high’ 71% year-on-year increase in March as buyers rushed to complete before the SDLT deadline.
The analysis found no evidence of a slump after the threshold returned to the £125,000 mark, with Landmark reporting underlying indicators that point to a more resilient property market continuing into Q2.
Key indicators of continuing stability include an 8% rise in mortgage valuation volumes in Q1 of 2025 compared to Q2 of 2024, which Landmark says is driven by greater interest rate stability, particularly in five year fixed-rate deals. Sold Subject to Contract (SSTC) activity was also up month-on-month, with the 4.4% increase suggesting new activity entering the pipeline regardless of SDLT changes.
Despite a small increase in property listings for the quarter – up 1% on last year – demand is slightly lower than supply. Although this is good news for buyers, access to the necessary finance to meet asking prices remains a challenge. Landmark says buyers remain engaged, with steady mortgage conditions improving access to finance.
Ongoing global economic uncertainty could have a further impact on affordability, with the threat of new trade tariffs and potential interest rate fluctuations having a potential impact on lending conditions.
Landmark CEO Simon Brown said of the findings:
“This quarter’s data paints a picture of a market that remains fundamentally stable. The SDLT spike was expected, but beyond that we’re seeing meaningful signs of resilience from the market. The opportunity now is to support this progress by making the transaction process faster, more certain and connected.
“With the right focus, the property market can play a central role in supporting the UK’s wider economic growth.”
Summary of Q1 year-on-year activity for England and Wales:
- Listing volumes up 1%
- SSTC down 9%
- Search order volumes up 8%
- Completions up 30%
