Following a year of turbulence within the UK economy caused by political events, namely  Brexit, the housing market is rebounding. Although many experts saw uncertainty dominating the headlines, so far the market has been resilient and some recent data backs that up. According to the Office for National Statistics, the average home price for a typical home increased more than £3,400 in month to month comparison March to April. The price for a home now sits at £220,100 across the country.

In spite of many sets of data indicating a stagnant housing market, house prices have increased £12,000 year on year during the month of April. Not only are house prices still rising, rental amounts are increasing as well. The cost of renting a home increased almost 2%, according to the ONS.

Remortgage transactions remain strong across the country, as house owners are keen to grab a wise lending tool if they have an opportunity. Lenders are lowering rates and many have announced outstanding deals within the last few days. Several house owners are seeing their two year fixed rate deals end this month. It is possible to potentially save £2,000 per year off the cost of a home mortgage.

As this year progresses, acceleration in the growth of house prices is taking place. Much discussion has occurred in regard to this with experts taking both sides of the debate.

Richard Snook of PwC commented on the nature of house prices and trends, saying: "These figures go against the recent trend of a Brexit-related slowdown that we predicted last year but remain consistent with our guidance of 2% to 5% growth in 2017 as a whole.”