Comment on the HMRC property transactions for July from Richard Pike at Phoebus Software

21 August 2020

Richard Pike, Phoebus Software sales and marketing director, says “The latest figures from HMRC show what we had all been expecting following the end of lockdown and further easing of restrictions as the government tries to get the economy moving again. There was always going to be an amount of pent up demand which, when coupled with the SDLT holiday and the fact that people are more open to relocating, because of new acceptable working patterns, has given the market a kick start.

“It is an encouraging sign to be sure, but as ever it also has to been regarded with an element of caution. Many will be looking to take advantage of incentives before the government pulls the purse strings closed. But, in creating a finite date of 31st March 2021, will we see an “artificial” increase in house prices, as people try to save on stamp-duty, and then a slump in prices when the tax returns on the 1st April? The next three months will be very interesting as we see figures released following a summer post lockdown.”