Recent opinions expressed and data revealed indicate the UK housing market is moving steadily along at the moment and the uncertainty of Brexit is not killing confidence. July data indicates the market as stable however with just slight changes in relevant figures. August once again proved the housing market is maintaining its stamina and exhibiting an ability to deal with stressing circumstances. Completed transactions during the month of August totaled almost 100,000 which is a 1.3% increase over the month prior. This figure also indicates a slight decrease compared with the same time last year of 2.6%.

The UK housing market has been a tough place to make a committed decision over the past few months. Brexit negotiations has led to buying as well as selling decisions to be placed on hold until more concrete evidence of a future is known. Even with this heightened amount of uncertainty swirling through the market, younger and younger people are joining the property ladder for the first time, according to the latest research. The age at which property owners are joining the ladder is younger today than it was five years ago.

Currently, there are few things certain within the UK housing market and the future so far is still among many things being debated. In recent times, the Bank of England has not hesitated in raising the standard base rate. This can make some house owners hesitant about making any moves whether considering buying or selling. Many house owners however have turned to a mortgage lending tool which makes sense and ensures some financial stability for the future. That lending tool is remortgage.

House owners who have watched their mortgage loan defer to the lender Standard Variable Rate after maturity are facing a time of decision. This decision to remortgage can potentially make a significant difference in the area of saving money. With a lower interest rate than the original loan rate, it is possible to save money with a lower monthly mortgage payment. Whilst saving money is high motivation for most that pay a monthly payment, sometimes it takes more to make a move. There is more to offer home owners who decide to remortgage than just saving money.

Housing speculation within the UK housing market has shifted from the London region to more northern parts of the country. More and more investors and those looking to flip a property are spending time in the northern region compared with the capital city of London. According to a recent study by Hamptons International, a division of Countrywide, the top area to flip a property is Burnley in Lancashire. More than 6% of all properties in the city during the past year were purchased then quickly sold again for profit.

Recent comments from the Bank of England governor Mark Carney have brought on some serious reaction concerning the possibility of impact of a no deal Brexit. Carney is of the opinion that a no deal Brexit could result in house prices falling by a third, or 35%. His comment was met with fierce opposition from many within the UK housing market. Estate agents especially had issue with the comments from Bank of England governor Carney.