Concerns that little housing market activity will take place in the UK this year is starting to make itself known. The largest estate agent in the country has issued a recent report stating the last three months have been lower in volume than expected. This created a stir for their stock price and sent shares falling in price. The general view of housing specialists is the country will see around 1% growth in property prices and London will continue to see property value slide this year.

Housing market activity forecasts for this year are leaning towards more dormant time than active time according to those close to the market. The recent report made public by Countrywide, which is represented by a number of high street brands, issued figures stating the company is posting £65m less in revenue for the entire year compared with the year prior.

The company is also reporting profits for the year 2017 will be lower than once forecasted and fall short of 2016 profits by more than 20%. These figures paint a clear picture of less activity for the buying and selling of property. The estate agent has closed 200 offices and now maintains a total of 800.

Remortgage activity conversely is remaining at a high level thanks mainly to low interest rates. Lender competition remains strong as well. Many house owners are finding attractive deals which is making it possible to save money and access valuable home equity. This cash is enabling owners to start home renovations, pay off old debt, and take much-needed holidays.