Phoebus comments on HMRC property transactions

28 February 2025

Richard Pike, chief sales and marketing officer at Phoebus Software:

“The property market continues to show signs of volatility, with transactions stabilising after a rollercoaster few months. While the slight dip in seasonally adjusted residential transactions suggests a degree of resilience, the sharp drop in non-seasonally adjusted figures highlights the ongoing uncertainty. However, it’s important to note residential transactions are still up considerably on this time last year. Despite interest rate cuts aimed at stimulating the market, rising inflation is likely tempering buyer confidence and affordability. With economic pressures pulling in different directions, the next few months will be crucial in determining whether stability holds or further fluctuations lie ahead. The changes to stamp duty at the start of April are also likely to create short-term volatility, as buyers bring forward their purchases to beat that deadline. We may see a surge in transactions in March, followed by a slowdown in subsequent months, mirroring patterns seen after previous tax adjustments”