The property market is struggling. Transactions slowed in August, figures from HMRC on Tuesday (30 September) showed, as uncertainty over future policies and high mortgage costs put buyers off, according to experts.

Separate numbers out earlier this week, from the Bank of England, also showed a stall in the housing market.

Net borrowing of mortgage debt fell in August following a fall in July, while house purchase approvals also dropped last month.

“The figures highlight the continued pressures on the housing market,” said Ian Futcher, a financial planner at Quilter.

“The residual effects of stamp duty changes [the tax on purchasing homes increased in April], combined with ongoing affordability issues and the typical summer slowdown, are still dampening activity,” he added.

Othe

See Full Page