The housing market has proven to be resilient in the wake of the Brexit vote, but growth could be stalled simply by the lack of properties coming onto the market. Demand is outpacing supply and while that has the ability to push house prices upward, it also cuts out potential buyers. The beginning of 2017 is expected to reflect not only the squeezing out of buyers, especially first time buyers, but also the usual slowdown in the market blamed on inclement weather.

While the winter slowdown is a usual occurrence in the market followed by a warming up with the coming of spring, there will be more at play than bad weather keeping shoppers away.

According to some experts the housing market is going to experience growth in the average house prices for every area of the UK except for London. The increase is going to push hopeful first time buyers further out of reach of the property ladder as prices creep up and onward.

However, there is also the possibility that continued attractive mortgages offered by lenders at historically low interest rates will keep buyers in the market despite expectations from those in the know. After all, the forecasts of gloom and doom following Brexit were overstated.

While growth may slow down in the start of the New Year, it may simply be the usual cold weather cool down. Such an event could open up the door to those buyers that are persistent in shopping for the right property along with the best mortgage for their needs.

Continued confidence in the housing market is bringing out homeowners looking to claim their part of the low interest rate opportunity. Fixed rate remortgages are likely to be the most popular choice by homeowners seeking out a financial safety net against rising rates.

Simon Rubinsohn, Chief Economist at Royal Institution of Chartered Surveyors (RICS), remarked, “A key issue for the housing market is the slowdown in transaction activity since the spring, which is clearly being reflected in the RICS agreed sales data as well as in official figures.

“Although there are some signs that the numbers may begin to edge upwards in the New Year, the combination of macro-uncertainty, the ongoing supply shortfall, with stock levels around historic lows, and the myriad of tax changes impacting on buyers suggest that any pick-up in activity will be relatively modest.”