Property transactions comment: October figures show true picture of the property market

John Phillips, national operations direction at Just Mortgages said: “After an erratic 18 months, with record high spikes in activity, the property market should now settle with transactions levelling out.

“As the dust settles from the stamp duty holiday, the October figures gave us a clearer picture of the property market. The story they tell is an encouraging one, as despite the return of stamp duty, there is still strong demand for property.

“Despite the end of the stamp duty holiday, lenders appear to still be confident in the resilience of the market, and aren’t predicting a drop in prices any time soon. This is clearly demonstrated by the availability of 95% LTV mortgages, which have returned in force over the past few months. This should hopefully bring more first-time buyers to the market, as they are mainly exempt from stamp duty.”

Published: 23 November 2021