Homeowners will likely invest no larger amount in their lives in one thing than their homes. It is the hope of many that it will fund a retirement when they downsize or it will leave an inheritance for their children. Some see their property as being a legacy where family will gather in the future for generations, especially those secondary homes that are seaside or in some picturesque setting. Also, there are those that see their investment in a property as a way of funding the next home in their lives. 

At the end of the year house prices in the UK declined. The month of December recorded a decline for the first time in six months. Halifax reported the average house price fell by 0.6% to £225,021. For the three months to December, the annual growth rate declined to 2.7%. The previous three months had recorded an annual growth rate of 3.9%.

We all function on clocks and a certain element of time. We all have to pay bills by the end of the month. We all have to wake up at a particular time in order to reach work when we need to. We all typically eat meals at the same time each day. And we all must watch for the best times in life to pick up a remortgage if we are in the market for it. The clock on finding the best remortgage could be winding down.

Many housing experts are still pushing homeowners to consider remortgage as a potential cost cutting option in the New Year. Interest rates remain at historic low levels, demand for house purchase is low, and inflation is still an issue. The Bank of England hinted at a possible increase in interest rates within the next six months. That leaves more than enough time for those who are interested to still apply for and obtain a remortgage from their current lender or a new lender.

UK housing market house price growth is expected to be subdued this year as uncertainty coupled with other factors like Brexit negotiations are taking center stage. By region, house price growth is starting to resemble one another. This is not typical and will likely not continue for a great deal of time. House price growth is expected to be minimal during the year and only expand by around 1%-2%. Overall, the year 2017 saw an increase of 2.6% in house price growth compared with 4.5% the previous year.

Following a year which included a hike in interest rates, changes to property tax laws, and continued Brexit negotiations, the UK housing market is still facing a shortage of mass proportions. Some experts have labeled the issue a crisis by the year 2020 if extreme numbers of homes are not constructed. This demand for homes is currently propping up the building sector of the market and helping many companies moving forward.