House prices within the UK housing market are still rising, just not at such a stellar pace as before, according to the latest economic figures. Nationwide figures indicate house prices grew at just over 2% from the beginning of this year through Q2. This is the slowest year on year growth in a five year period. Compared to Q1, house prices only saw growth of 0.42%. London experienced the lowest amount of house price growth compared to all other regions. The market is expected to follow this trend through the rest of this year.

According to the Royal Institution of Chartered Surveyors, housing transactions are expected to fall from 1.2 million in 2017, to 1.15 million this year. House prices are forecasted to fall slightly but remain steady due to a shortage in the amount of properties available for sale.

A slowdown in transactions is not for a lack of activity in the remortgage sector, however. July saw an incredible amount of activity just prior to the base rate increase. Home owners were able to find attractive deals on remortgage from lenders of all types and sizes. In fact, house owners are still finding lenders of all sizes offering deals which feature a number of incentives.

Remortgage growth is expected to continue despite the slowdown which is currently taking place in other parts of the housing market. House owners are being urged to act on remortgage if they are still on the fence about the process. For those in position to do so, saving money could be just weeks away, according to housing market experts.