Property transactions reaction from Phoebus Software

09 January 2026

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

“The fall in transactions in November perhaps isn’t surprising given the uncertainty in the run-up to the Budget, with many prospective buyers putting their plans on ice the weeks before. We’ve seen this play through in house prices, with both Nationwide and Halifax this week reporting a fall in house prices and a slowdown in annual growth in December. However, with the Budget out of the way and the Bank of England’s decision to cut the base rate in December, I’m cautiously optimistic that we’ll see volumes gradually increase through 2026.

“There’s pent-up demand in the market and lenders are competing fiercely on rates, and this should help feed through into completions over the coming months. After a volatile few years, and with the budget out of the way, I’m hopeful that 2026 will be the year the mortgage market bounces back.”