Figures provided by HMRC suggest a potential decline in the UK housing market. It is indicated that this has been a result of the mortgage and interest rates increasing at the end of 2022. UK residential transactions for January 2023 showed a 7% decrease from January 2022 and a 27% reduction from December 2022. It is further reported that there are similarities between the levels of monthly property transactions seen in early 2020, prior to the coronavirus pandemic and subsequent UK lockdown, and current figures.

More information is available here: UK monthly property transactions commentary  – GOV.UK (www.gov.uk )