Remortgage activity continues to be steady in today’s UK housing market. Interest rates are still the driving force controlling what lenders are able to provide as deals to house owners. Many are taking advantage of deals on the table, whilst there are still some waiting on the fence for more news on a possible increase in rates. Inflation is always a concern, but many experts are predicting little chance of an increase in interest rates before the end of the second quarter.

House prices beyond remortgage are dominating much of the air time involving the housing market. Experts from all corners are estimating what will take place in the coming months. Many agree the low amount of supply is creating upward pressure on the market and pushing not only house prices higher, but also increasing the amount or rental costs.

Martin Ellis of Halifax commented on the latest regarding house demand, saying: “Housing demand is being supported by an economy that continues to perform well with employment still expanding. Meanwhile, the supply of both new homes and existing properties available for sale remains low.  This combination is pushing up prices.

“The annual rate of house price growth has, however, nearly halved over the past 11 months. A sustained period of house price growth in excess of pay rises has made it increasingly difficult for many to purchase a home. This development, together with signs of reduced momentum in the jobs market and squeezed consumer spending power, is expected to curb house price growth during 2017.”