Phoebus comment on HMRC Property Transactions

30 April 2025

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

“March saw a notable rise in residential transactions, according to the latest HMRC Property Transactions data, largely driven by buyers aiming to complete before the stamp duty changes took effect. This kind of activity is typical in the lead-up to policy shifts, and while it may give a temporary lift to the numbers, we could see a cooling off-period in the coming months as the market settles.

Looking ahead, expectations of further rate cuts from the Bank of England later this year could offer further support to the market. Some economists are forecasting a cut as early as May, which may boost buyer confidence. However, this sits against a backdrop of continued cost-of-living pressures, meaning affordability will remain a key constraint. We’re also yet to feel the full effect of the US tariffs or indirect tax increases so the long-term picture remains unclear.”