Target Group comments on HMRC property transactions

30 October 2026

Melanie Spencer, growth director at Target Group, said:

“While transactions are inherently backward-looking, the non-seasonally adjusted data offers some encouragement with activity edging up in September compared with August. However, no matter which way you look at it, transactions remained lower than a year earlier, highlighting the mood of the market in the face of continued volatility and uncertainty.

“The real focus is on where we go from here. In reality, this week’s Budget worked out relatively well, not because it was very good, but because it wasn’t too bad. Despite yet another attack on landlords, the rest of the Budget felt like pecking around the edges, along with some welcome support for first-time buyers. We’ve already seen swap rates respond positively to the Chancellor’s plans, which has pushed some lenders to take a look at their pricing and could encourage further competition. Is it enough to release some pent-up demand? That is yet to be seen, especially with the very real threat of a base rate rise on bonfire night.

“The ability to adjust lending strategies at short notice and in response to shifting rates, market competition and levels of demand will be increasingly important for lenders navigating the months ahead. Investment in technology will therefore remain high on the agenda, with lenders looking to the right partners and more streamlined, scalable solutions to improve efficiency and keep pace with changing market and customer expectations.”