Homeowners that may not be considering a move to another property or selling should still care about the state of the housing market.  When it comes time to remortgage it will be important how the property values are performing.  In the past few years there has been a steady decline in property values in all areas other than London.  The UK average house price would be much lower each month if not for the positive impact of the health of the London housing market. 

Many homeowners will go to remortgage at the end of their current mortgage deal to find that their debt repayment has not kept up with the level of property decline.  The result will mean that instead of building equity the homeowner will have submerged into negative equity and a remortgage is then out of reach.

There is a great need for more home buyers in the housing market.  Supply of available properties is high, much higher than the number of buyers.  Expectations of selling prices that will attract buyers have been more realistic from those selling.  The market is attractive for buyers but lending approval still remains elusive.  There are plenty of hopeful homeowners but few that can meet the criteria of lenders to gain approval.

The recent trend of lowering interest rates on mortgage offers by lenders should help to bring the attention of hopeful home buyers that were discouraged when interest rates began to increase only a few months ago. 

The improvement of the housing market will boost the economy and will strengthen property values, which is important to homeowners who want their investment to pay off and a remortgage in the future.  The housing market is important to those hoping to sell and buy but it is just as important to the homeowners that need their property to increase in value rather than decline.