The UK housing market delivered its clearest signal yet of stabilisation in July, with the annual shortfall in agreed sales narrowing sharply to 5.2%, down from a persistent 10% deficit that had dogged the market since Easter. That improvement, sustained over several months rather than a single blip, suggests the post-stamp-duty-deadline hangover that suppressed transactions through spring is finally lifting, and that buyer confidence is returning at a pace few forecasters expected heading into summer.