Property transactions comment: Yo-yo year continues

John Phillips, national operations director, Just Mortgages said: “While the highs of the year have been incredibly high, the lows have not been particularly low, and the year is on track to break records for transactions.

“Following the expected dip in activity in October, transactions bounced-back and November gave us yet another example of the resilience of the property market. The market is beginning to settle, but we may not get a true picture until the second quarter of 2021.

“Mortgage rates will inevitably rise slightly in response to base rate increasing, but this shouldn’t impact affordability significantly. The only real concern on the horizon is the seemingly never-ending increase in house prices. While this appears not to have deterred too many buyers, there will come a point where some begin to baulk at prices and decide to postpone purchases.”

Published: 21 December 2021