Recent data concerning the expensive boroughs of London have proven to follow the trends expected in the housing market for the capital. Experts have discussed that London house prices would continue to decline despite the holding on of growth in other areas in the UK. Various reports revealed that in October the average house price in the London area fell and for some reports the data showed it was a deep decline.

However, in other areas of the UK the housing market has remained strong, with buyers showing up and taking advantage of low interest rates.

Since the recession the London housing market has helped to contribute growth data to the national average. With declines, it will impact the overall UK average house price, which is showing up in some reports to reveal strong demand from buyers and resilience not expected.

What is expected for the close of 2016 and the beginning of 2017 is continued confidence from hopeful home buyers as lenders keep mortgage deals attractive. There could be the seasonal cooling off of buyers during winter, but in spring home buyers should show strong demand once more because interest rates, even if they increase slightly, will be attractive for mortgages in terms of the last decade or more.

The strength of the housing market despite the naysayers that expected further declines in the demand of buyers due to the Brexit vote will add to the confidence of homeowners and should push demand for remortgages.

Without question the housing market has given surprises to the experts over the past few months and the strength it has held onto will continue as the year end comes. While London prices may continue to decline, many believe the prices in the capital needed a correction, and perhaps that is in the works.