Stamp Duty  

Property transactions down 12% as market 'normalises'

Noye agreed with Murphy that the dips in stamp duty and residential transactions painted a picture of a housing market that is “slowly getting back to some sort of normality”. 

She added: “With interest rates on the rise and a cost of living crisis looming it’s likely that some of the wind is coming out of the housing market’s sails and prices may start to deflate after intense double-digit growth.”

Last week (February 3), the Bank of England raised the UK’s base interest rate to 0.5 per cent, the second increase since September.