The housing market reports for March will soon start appearing and experts are forecasting a decline in the average house price for the UK. The decline will likely be small, but a decline all the same and mostly blamed on the falling demand for housing in London. The blame on the fall in demand is being put on many factors some of which are Brexit, lowering consumer confidence, stamp duty costs for higher cost properties, and even a natural correction to overpricing in the London market.

London had been strong throughout the recession and performed sometimes so well that the average house price for the UK would show growth with London being the only area reporting any increase. It was strong enough to bring the average upward into a level of growth. Without a strong London demand for housing, the average house price could be impacted, even though other areas in the UK could be performing quite well.

Nevertheless, there is a possibility of a decline in the housing market reports for March.

Some of the blame for the decline in the UK average house price could be due to a lot of inclement weather in February and March. The weather always has an impact on the housing market and can cause people to put on hold working with estate agents or lenders.

However, there should be a boost on the way to the housing market that could reverse any decline in March. The weather will be getting better allowing people to get out and house shop. There are warnings of a soon to be increase in the Bank’s standard base interest rate which could push hopeful home buyers into taking action to become homeowners, especially with lenders offering lower deposit requirements down to 5% for some borrowers.

Even though a decline might be reported for the average UK house price, it isn’t expected to remain in a decline or even steady. Instead, there is likely to be a boost that will keep the housing market in a state of growth throughout spring and summer.