The past year has been filled with a constant stream of information warning of falling house prices and a housing market unable to weather the Brexit storm. The housing market proved to be resilient however as home buyers stayed focused on opportunities that would help boost them onto the property ladder. Lower asking prices from home sellers and lower interest rates from lenders were too good to pass over and interest in the housing market remained to keep it not only steady but at times surprising the naysayers.

Now there are predictions that the average house price could increase by an average of 15.3% in the next five years according to Savillis estate agency. The average of course is 15.3% which means that in some areas it could be much higher, such as the prediction for the northwest of England which is forecasted to have their average house price for the region increase from £169,000 to £210,000, which is an increase of 24%.

London, where house prices have been on a constant decline, is expected to only see a 4% increase by 2024.

For homeowners there must be a sigh of relief that their home values will have weathered through what should have been the worst of Brexit and in the next year see growth. No underwater mortgage worries or otherwise doom and gloom issues are expected for UK homeowners in the next year.

Home buyers are encouraged to take advantage of the current market for the low asking prices and low interest rates on mortgages from competitive lenders may soon disappear. Taking action sooner rather than later to make the most of all opportunities in today’s housing and lending markets is encouraged.