In the midst of the Brexit vote, new tax laws, struggling wage growth, and inflation lies continued uncertainty regarding the next step of the UK housing market. Many predicted November would be a slow month both in activity and house price growth. The market proved to be resilient once again, even in the weeks following an hike in the base interest rate. Final November figures indicate the market is still quite full of life.

According to figures from Mortgage Advice Bureau, November resembled few other Novembers in terms of slowdown. House prices held constant in many regions which is far from the norm after months in the past following the busy selling season.

House prices during the month of November increased slightly by 0.6%. The average price for a house now sits at £248,202. This is up from the average price in October of £246,782.

First time buyers remain a challenged group following many years of significant increases in house prices. The average price of a residence for the group fell slightly in November and now sits at £192,464. This represents a drop of 0.4% compared with the month of October.

Remortgage activity remains not just a beacon of strength for the market, but as a force among all lending types. UK house owners are still picking up favourable deals from lenders offering packages with low interest rates and competitive administration fees. It is expected that much of the demand for remortgages will flow into the year 2018.

Housing experts see factors making remortgage attractive now will only continue for several months.