London residents who are owners of properties looking to sell a residence of more than £1m are now seeing the speed of the current housing market. According to data from a poll of estate agents, this group of property owners found it quite difficult to find buyers for these properties during the month of January. This piece of data has led this market to being referred to as subdued by many housing experts. Demand for property, fewer overall sales, and fewer properties coming on to the market are all being blamed for the state of the market, according to the Royal Institution of Chartered Surveyors.

London continues to be the epicenter for price falls in property across the UK. The Southeast, east Anglia, and the northeast all experienced price drops as well. Conversely, Northern Ireland, Wales, and the northwest of England have all seen price increases regarding property.

Simon Rubinsohn with RICS commented on the latest data to surface regarding the housing market, saying: “Lack of inventory on agents’ books continues to provide a major challenge with the number of valuations being undertaken not suggestive of a pick-up in new supply anytime soon.”

Remortgage remains a strong component of the current market. House owners are finding deals offered by banks and lending institutions. Many are offering packages which include discounted administration fees and low interest rates. Some lenders are also making special concessions by increasing the amount of cash back.

Remortgage has the potential to change a financial balance sheet of a household in one sweeping motion. It is now possible to apply for a remortgage online and complete the approval process in a short amount of time.