Sure the year has flown by and there is a lot going on. The holiday season is approaching and it is time to get ready for winter. In other words, who has time to think about taking on the time, effort, and stress to remortgage? Likely no one when you look at the busy, busy schedule of most people that is only going to get busier in the weeks ahead, but it might be worth all the fuss.

The latest house price index from Halifax revealed that UK house prices grew annually by only 0.9%. The average house price therefore is now at £232,249. There may have been growth, but it was disappointing in that it was the lowest growth recorded so far this year. However, it should be noted that throughout the months of September and October hopeful home buyers were likely put off by the concept of home buying as the Brexit deadline of 31 October approached.

Homeowners that are considering a remortgage are being warned to throw their loyalty to their current lender aside. Rather than be loyal and take the easy route to a remortgage with the present lender, it could be more beneficial to shop around for a remortgage. The best deals are likely being offered to new customers to entice them while current customers are missing out on substantial savings.

According to the latest data information on the housing market from Halifax, the average house price is now at £232,249. October, therefore, had a price growth of 0.9% compared to the 1.1% growth in September. Property inflation is reported to be at its lowest level in six years. The decline is being blamed on the uncertainty surrounding Brexit. As the deadline that had been set for 31 October drew near, hopeful home buyers are thought to become more cautious and to wait out what was to come rather than take the step onto the property ladder.

There are only a few weeks left to the year and that means that winter is on the way. Right before the year ends winter will be officially here and that could mean a further cooling off of the housing market. The usual action of home buyers is to give a slight boost to the market right before the holidays set in, but afterward the market settles into calm with less activity until spring.

In yet another sign of the housing market slowing, it was revealed in the October data from Zoopla that it takes longer to sell a home. The average length of time it takes to sell a home is at a three year high and has increased by almost a month in length since 2016. Data from Nationwide revealed that the current average house price was at £215,368 for October. This is a 0.2% increase over the previous month of September and a 0.4% increase over October 2018.