The recent slowdown of activity within the UK housing market began in the early part of fall and continued through the end of the year. That slowdown included a decrease in the increase of house prices throughout the country. London was not entirely excluded in the house price halt, either. The capital city did go through a modest period of price increase freeze. January has brought activity back to life and that means house price increase is back on the move. Average house price increased almost 2% in the first month of the year, and that rise is expected to continue at a modest pace throughout the year.  

Martin Ellis of Halifax commented on the fresh emergence of house price growth, saying: "This bounce-back in house price growth in January coincides with reports of the first rise in mortgage approvals for six months in December.

"These improvements may indicate that the recent declines in mortgage rates, the reform of Stamp Duty and the first increases in real earnings for several years are providing a modest boost to the market. It is, however, too early to draw any firm conclusions.”

Ellis added: "The monthly figures in January can be particularly volatile due to the lower volumes of activity at this time of year and there have been unusually large rises on occasion in the past, such as in 2007 (2.3%) and 2009 (2.4%)."

House owners looking to remortgage could be facing a fine opportunity at the present to search for a new mortgage loan product. At the same time house prices are rising again, lenders are locked in a heated competition to offer attractive deals. Remortgage deals are available online at any time.