The UK housing market is now being described as muted and stagnant by some economists. These comments are coming just after new Halifax data has emerged. The latest figures indicate house price growth is continuing a slide which began a few months ago. The latest data shows November house price growth at 3.9% for the year to the end of November. This is a fall from 4.5% for the year at the end of October.

The average price for a UK flat or home now sits at £226,821, according to the Halifax.

House price growth and other fundamental activity crucial to the health of the housing market are being stifled by a continuing rise in inflation, according to some housing experts. Wage growth is failing to keep pace with the cost of living which is putting little pressure on housing costs. This, in turn is creating a muted performance going forward.

In contrast, remortgage activity remains strong and is expected to remain in high demand for some time. Housing specialists see remortgage activity remaining strong through much of next year, according to the latest public comments.

Remortgage has created great opportunity to save money, among other things, within the last few years. Interest rates have remained at historic lows which has enabled house owners to secure a new fixed deal with a connecting lower interest rate. This new rate has immediate impact on the cost of the monthly mortgage. House owners are also able to access home equity and secure cash through the process. Home renovations, paying off old debt, and many holidays have been taken through a successful remortgage.