Phoebus comment on today's HMRC property transaction figures
31 January 2025
Richard Pike, chief sales and marketing officer at Phoebus, said:
“The seasonally adjusted figures demonstrate a relatively stable housing position. As socio-economic conditions steady and the Bank of England cuts rates slowly to circa 3.5% / 3.75% this year, we can expect a positive movement in the housing market as we move through the year.
“There isn’t a lot economically to see any sharp rise in house transactions this year, albeit there will be some growth. An area to keep an eye on further down the line is full digitisation of the house-buying process which will speed up transactions and avoid the unnecessarily stressful experience that moving home is today. We are working with the Open Property Data Association (OPDA) to make this happen and are looking forward to seeing the results in the future”.
