Phoebus reaction to Property Transactions

30 September 2026

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

“Transaction volumes have been gradually losing momentum since the spring, and August continued that downward trend. With mortgage approvals also below their recent average, the housing market is going through a sustained period of weakness.

“The problem isn’t aspiration, it’s affordability. The housing market is being held back by buyers’ ability and willingness to transact at current borrowing costs.

“The Government’s new support for first-time buyers shows that stimulating demand is firmly back on the policy agenda, but affordability remains the more fundamental question. Lower deposits can help people access the market, but the cost of borrowing will continue to influence how much people can afford to borrow and, ultimately, whether they choose to move.”