Comments on HMRC property transactions

The HMRC’s property transactions  show a 27% fall in January from December. Adam Oldfield, chief revenue officer at Phoebus Software, said: “This is a huge fall in property transactions in January and is a clear indicator of people’s reluctance to move in the current climate of high inflation and cost of living.

“The HMRC data tallies with other reports such as the RICS UK Residential Survey for January which said home buyer enquiries, agreed sales, new instructions and house prices were on a downward trend. Until the economy gets back of some sort of stable footing, property transactions will probably remain lower than the past couple of years.”