In the past few years, the base rate has gone through reduction after reduction and created a wave of lender freedom which in turn has greatly favoured borrowers. Lenders are offering deals with low interest rates unheard of in the last several years. House purchasers obtaining an original deal and current home owners looking to remortgage are finding massive amounts of savings or great deals on original loans. Much talk now within the UK housing market revolves around those who should think about remortgaging, paying the early repayment charges, and possibly taking a step back in order to gain two steps forward.

Young women are quickly becoming an important demographic to those involved in selling homes. As more women are putting off having a family and pursuing their careers, they are finding it isn’t necessary to put off buying a home. Lenders aren’t focused on simply offering mortgages and remortgages to families, but are modeling products to attract the unconventional home buyer which includes single young adult women.

Although there has been political, as well as other types of news shake the foundation of the short term and long term forecasts of the UK housing market, it appears it will be quick to rebound according to many experts. The latest released data has pointed to possible gloomy times ahead for the market making reliable predictions hard to come by. Fundamentals of the market are standing strong and are considered to lead the property market into a solid tomorrow.

Mortgage lending has seen a normal slowdown since the beginning of the year. It is out of season for house purchase and the cold weather seems to always have a chilling effect on the market. February data indicates home mortgage lending improved a slight 2% over the same month of last year, whilst month on month comparison show a 6% increase on the month of January.

Last year the UK housing market saw uncertainty and modest gains forecasted for the short term and opinions varying widely on the long term. So far this year, sectors are starting to show signs of a possible slowdown, especially in house prices. According to property website Zoopla, house prices have fallen £1,000 per property since the beginning of 2017. 

Recently released UK housing market data from the month of March indicates there is a cooling off trend occurring. Available houses for sale are now averaging around 43 per real estate branch, according to the latest figures from the Royal Institution of Chartered Surveyors. Since the triggering of Article 50 a bit of uncertainty has surged within the market and that has resulted in lower amounts of activity in many sectors.