A greater impetus to secure a favourable rate - Comment on the HMRC property transactions for February from Richard Pike at Phoebus Software

23 March 2022

Richard Pike, Phoebus Software sales and marketing director, says “It is not at all surprising to see that the figures for February 2022 are lower than the same month last year, which were boosted by the approaching SDLT holiday deadline. However, the fact that February’s transaction numbers were higher than in January is evidence that the prospect of rising interest rates gave borrowers greater impetus to secure a more favourable rate. It is difficult to see that this level of activity will continue in the coming months as the impact of the conflict in Ukraine and our own rising inflation are likely to dampen confidence.

“Of course, with the Spring statement tomorrow we will all be watching to see if the housing market even registers on the Chancellors list of priorities at what is a particularly difficult time for our economy, and around the world.”