Comment from LiveMore on fall in property transactions

31 May 2023

Following this morning’s release of the HMRC monthly property transaction figures, which have fallen, I have a comment from Simon Webb from mortgage lender LiveMore, which lenders to people aged 50-90+.

Simon Webb, managing director of capital markets and finance at LiveMore, said: “Property transactions continue to fall following a month-on-month rise in March primarily due to more working days compared to February and April.
“The slowdown is likely to continue as uncertainty in the economy along with the high cost of living and rising mortgage rates will put some people off moving home. Until inflation comes down to more palatable levels and Bank base rate reduces, we expect 2023 to deliver a subdued housing market.”

https://www.gov.uk/government/statistics/monthly-property-transactions-completed-in-the-uk-with-value-40000-or-above/uk-monthly-property-transactions-commentary