At the end of the year house prices in the UK declined. The month of December recorded a decline for the first time in six months. Halifax reported the average house price fell by 0.6% to £225,021. For the three months to December, the annual growth rate declined to 2.7%. The previous three months had recorded an annual growth rate of 3.9%.

Some experts noted this was a surprise decline, while others had warned there would be a shift downward. December is a month where people are distracted by many other obligations and responsibilities and the weather was inclement. Such factors can put a shopping home buyer to slow down on their home ownership goals.

As the winter weather holds a grip, it is expected to push shoppers to stay indoors and shop online. The still present low interest rates offered by lenders are hard to pass by and hopeful homebuyers are not expected to disappear to the point of the housing market appearing to weaken. In fact, there is an expectation that the stamp duty break that was offered to first time buyers and due to end in a few months could provide a boost.

Halifax reported a potential annual house growth rate for 2018 to range from steady to 3%.

Meanwhile, another group of borrowers besides house buyers are equally intrigued by the still low interest rates offerings. Homeowners are seeing the advantage of remortgages and the benefits of long term financial safety from rising interest rates makes a fixed rate deal even more attractive.

The year has many questions that experts still cannot answer with certainty according to our economy, but a strong housing market with perhaps some natural corrections occurring in the London market is likely. Homeowners, home movers, and hopeful home buyers may see interest rates rising this year, but for now interest rates are still far below what was normal before the financial crisis.

There are deals to be found and lenders are still competitive. Shopping around for remortgages, mortgages, and property can be done online even if winter is keeping everyone indoors. Low interest rates are too good to let winter deter one’s efforts when there are deals to be made.