Out of 20
Latest HMRC monthly reading
Latest completed reading
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Activity over time
This chart tracks how market activity has moved inside the wider Mortgage Market Health Index.
Residential transactions over time
This shows the HMRC residential transactions series feeding the activity pillar.
How activity is measured
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The Version 1 activity pillar is driven by HMRC residential transactions, which act as the clearest live signal of whether the housing market is actually moving.
How the activity score is banded
- 10 out of 10 raw: transactions of 100,000 or more — strong market flow.
- 8 out of 10 raw: transactions between 90,000 and 99,999 — healthy market flow.
- 5 out of 10 raw: transactions between 80,000 and 89,999 — functional but not especially strong.
- 2 out of 10 raw: transactions between 70,000 and 79,999 — weak market flow.
- 0 out of 10 raw: transactions below 70,000 — severely weak market flow.
How this appears in the index
The raw activity score is calculated out of 10, then rescaled to a displayed pillar score out of 20 so it fits the weighting used in the wider Mortgage Market Health Index.
Important note
This is a standardised market-activity benchmark. It is designed to track whether the housing market is moving more freely or becoming more subdued over time, rather than to capture every local variation in deal flow.