The UK housing market could be in the midst of a property boom. Continued growth is expected as there are signs of demand growing from first time buyers. Prolonged low interest rates from lenders, government backed programs, and incoming investors to the market will push demand up and house prices will surely rise. This will be hard news to take for those already finding it difficult to get onto the property ladder.

Homeowners that have been putting off a remortgage may want to take notice of this news as well. Lenders are in a competitive mode and offering cheap mortgage and remortgage deals to borrowers. However, once demand for mortgage lending increases overall, lenders will likely begin to pull their lowest interest rate deals. This is despite the deflation level now being dealt with by the Bank of England.

There are experts that are forecasting a long and steady increase in the average housing price for the UK as demand continues to be strong for property. Foreign investors are especially interested in UK housing. One expert, Mike Hussey, known as “Mr. Property” and is the chief executive of property developer Almacanter, is being so bold as to predict a 15 year property boom that shows no sign of bust.

Mr. Hussey said, “We are in the middle of 15 years of property boom and no sign of bust. I have called the cycle well twice in the past and, although I may be wrong now, I believe that we are now in a 15-year period of steady growth in the property sector, which will run from 2010 to 2025. London, in particular, is entering an unprecedented boom period.”