Housing market house prices have taken more than a bumpy journey this year to arrive to the point where they now have settled. Political changes loom, new taxes are taking effect on second and third properties, and inflation is causing a new process of purchasing personal belongings. There now exists a new outlook within the housing market and much of it swirls in uncertainty. Forecasting house price growth and selling a property within the city limits of London have now become quite a challenge.

Many London residents are now finding themselves in unfamiliar territory. They are residing in houses which they are no longer suited to live in. For many, this is not for a lack of making an effort to sell their property. Actually, for the first time in seven years, more houses are being pulled off the market than selling.

Marcus Dixon, LonRes head researcher, commented on the latest data highlighting the true climate within the London market, saying: “This gives you an idea of just how sluggish the market is.”

Dixon added: “There are large numbers of people in properties they would really rather sell.”

Outside, as well as inside the city walls of London, there is a sector still enjoying nothing but a high amount of activity. That is the remortgage market. Although the last sixty days has seen a slowdown, there are still many UK house owners taking advantage of low interest rates and an aggressive pool of lenders offering exceptional deals with many benefits attached. Experts believe this is an optimum time to consider a remortgage to a fixed deal.