Target Group comments on HMRC Property Transactions

28 August 2026

Melanie Spencer, growth director at Target Group, said:

“While up on a non-seasonally adjusted basis, today’s dip shows just how sensitive the market remains to pressure, particularly with plenty of external noise and disruption in the wider economy. While there will be those undeterred by all the headlines and pushing on with plans, they remain the minority. In reality, higher borrowing costs and uncertainty around inflation, mortgage pricing and the wider economy has made households more cautious about committing to a purchase - despite good efforts from both lenders and brokers.

“It’s always important to remember these figures reflect decisions made weeks or even months ago. The bigger concern for the months ahead will be how current mortgage pricing and rate volatility, along with economic uncertainty and general borrower confidence feed through into new offers and mortgage applications. That forward-looking picture looks finely balanced and depends massively on factors outside the control of both lenders and potential borrowers.

“For lenders, this reinforces the value of being able to flex with the market. Whether volumes increase or soften, lenders need the technology, processes and people to manage changing levels of activity efficiently while maintaining a consistent customer experience and meeting the regulatory standards expected of them.”