Comment from Movera (including ONP Solicitors) on property transactions

31 January 2024

Following the release of this morning’s property transactions data, here is a comment from Movera.

Mark Tosetti, Group Partnerships Director at Movera, a group of home moving businesses including ONP Solicitors, said: “These figures are a little disappointing, showing as they do a fourth consecutive month-on-month fall in transactions. However, as transactions are at the end of the homebuying process, they do not necessarily reflect the rest of the market. There are reasons for cautious optimism here, with lenders dropping interest rates nearly every day and inflation looking as if it will steady. But we must still bear in mind the cost-of-living crisis and the many homeowners still on fixed-rate loans that are expected to end this year. We’ll be watching the Monetary Policy Committee’s announcement with keen interest tomorrow.

“As an industry, we must continue to work to support homebuyers through challenging times. Our focus will be on providing expert advice for those looking to move or remortgage this year.”

Source: UK monthly property transactions commentary - GOV.UK (www.gov.uk)