A bit of a roller-coaster ride - Comment on the HMRC property transactions for September from Richard Pike at Phoebus Software

21 October 2021

Richard Pike, Phoebus Software sales and marketing director, says “We are all on a bit of a roller-coaster ride at the moment. One moment we’re up and the next we’re down. The housing market climbed quickly to the top during the stamp duty holiday, then it dipped as expected, and now we’re heading up again. In reality, we’re still riding pretty high and house prices, as reported by the ONS, continue to climb as demand for properties with more space and away from city centres remains.

“Inflation may yet play its part and the Monetary Policy Committee will have a lot to think about in its next meeting. However, the economy is still fragile and, although raising interest rates may be the conventional way to put a lid on rising inflation, the question is, can we afford to hamper growth after such a long period of stagnation. We may well see interest rates rise in the coming months, but it is by no means a certainty.

“Coming out of the pandemic was always going to be a tricky time, but for now our market is weathering the storm while many other industries are taking the brunt.”