UK housing price growth is falling. During the month of September the market posted the highest level of decreasing house prices seen in the past six months, according to Halifax. The number of houses available on the market for purchase has also fallen to a level not seen since the economic collapse of 2008. House price growth is tied completely to demand with other factors having minimal influence. Brexit uncertainty is being blamed for the sluggish climate which now exists in the housing market.

The average price of a UK home fell last month 1.4%, according to Halifax, bringing the price down to £225,995. Although the current trend is falling prices, the cost of a house still sits at a price point which is 2.5% more than the same time last year.

In the midst of falling prices with Brexit uncertainty lies remortgage activity. House owners are finding excellent deals from all types of lenders which include low interest rates, free valuations, free legal fees, and more. Deals have also been found featuring cash back options on deals which includes a fixed rate.

Economists see Halifax data as skewed. Comparing the region of London to other parts of the country is especially common. As property prices in the capital city have fallen for the first time since 2009, prices in other parts of the UK are increasing.

Another factor affecting demand for houses is the overall growth in prices during the last decade. Data confirms house price growth has squeezed many out of the possibility of purchasing a home. Wage growth has simply not maintained pace with house price growth.