Final data has been analysed for the housing market in the month of July. All figures indicate the market experienced very little change month on month. Valuations and transactions remained consistent, according to the Mortgage Advice Bureau. It appears the market paused for a moment in time during the month and was not impacted with outside factors. Remortgage remained at a high level of activity and house owners continued to find attractive deals from major lenders.

Data from the Mortgage Advice Bureau also indicated Brexit negotiations had not taken a significant toll on the optimism level within the housing market, although many experts see much uncertainty remains for the short and long term.

That uncertainty is swirling mainly around the future of interest rates. The vote to keep interest rates at their current level last month tallied 6-2 in favor of keeping rates at the current level. The Bank of England has seen inflation rise and then fall which has created mixed feelings within the Monetary Policy Committee about hiking the base rate.

Brian Murphy of Mortgage Advice Bureau commented on the latest data, saying: "Mortgage Advice Bureau data is based upon mortgage applications, therefore this provides a good snapshot of consumer activity in one of traditionally the quieter months of the year.

Murphy added: "The data from July suggests that there has been a slight cooling in prices in some areas and also in some sectors, for example at the entry level of the market with the average first-time buyer paying less for their homes in July than they did in the previous month, most possibly due to a reduction in competition with investors over the same type of property.”