Property transactions: Phoebus reaction

30 October 2026

Richard Pike, chief sales and marketing officer at Phoebus Software, to this morning’s HMRC seasonally adjusted property transactions data:

“Property transactions have held up reasonably well this year, with only a small drop compared to 2025. However, with mortgage approvals falling throughout 2026, and declining sharply since April, it’s only a matter of time before this feeds through into completed sales.

“With borrowing costs remaining high and affordability stretched, many buyers are cautious about committing to a purchase, particularly if they are hoping for more favourable conditions ahead. The Government’s proposed first-time buyer schemes should provide some support, but it will take time for this to translate into higher transaction volumes.

“Until affordability improves and buyers feel more confident about the economic outlook, a sustained recovery in the housing market could remain some way off.”