HMRC property transactions comment

Following this morning’s release of the HMRC monthly property transaction figures, Simon Webb, managing director of capital markets and finance at LiveMore, said: “There has been a significant drop in the number of non-seasonally adjusted housing transactions in January falling by 27% on the previous month to 77,390. This is the lowest since June 2020 when transaction numbers stood at 67,430 but that was when the UK was just coming out of the first Covid pandemic lockdown.

“With higher mortgage rates than last year and the cost of living bearing down, buying houses will not be at the forefront of people’s minds. With so much economic uncertainty potential home movers will decide to stay put.”