Recovery, rising prices and rates - Comment on the HMRC property transactions from Richard Pike at Phoebus Software

22 February 2022

Richard Pike, Phoebus Software sales and marketing director, says “Looking at the non-seasonally adjusted figures from HMRC today we are starting to see the trend that we were probably expecting last month. As the economy recovers, more quickly than we might have imagined according to the latest PMI survey, there is a much greater likelihood of another interest rate rise. This is perhaps the only thing that may curb the rate at which house prices continue to rise. The latest monthly report from Rightmove showed that prices had reached a 20 year high, which has to be putting many first-time buyers’ ability to get onto the property ladder almost out of reach.

“Recovery, rising prices and rates. All in all it’s difficult to predict where the housing market will go next. Suffice to say that it cannot go on the way it is. The disparity between those that have and those that want to have is getting greater all the time.”