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Phoebus comment on Gov.uk monthly property transactions: "could cause some alarm"
10 January 2025
Richard Pike, chief sales and marketing officer at Phoebus, said: “At first glance these month-on-month figures could cause some alarm, bearing in mind the significant decrease in transaction levels across all properties – residential and non-residential – seasonally adjusted or not. However, concerns around changes to capital gains tax and stamp duty ahead of the Autumn Budget are likely to have driven a higher level of property transactions in October than might otherwise have been expected.
“We can be encouraged at the year-on-year uplift in residential property sales and I expect this trend will continue, at least among first-time buyers who are taking advantage of the higher stamp duty bracket until April.”
