The recent Brexit vote and other issues affecting the UK housing market have placed stress and burden squarely on the shoulders of anyone close to the market. This has led to many housing decisions to be shelved and tagged for another date. It has also led to a major amount of uncertainty surrounding the market and its future. Couple this with a potential increase in base rate, and many housing experts are up in arms as to what to forecast next.

There are several points regarding the uncertainty which surrounds the present-day housing market. A recent set of data was recently released indicating many are questioning the near future and what it will contain. Overall, a lack of confidence in the market was discovered.

The figures by the Halifax Housing Market Tracker show resilience is wavering among those who were polled. Confidence has fallen to a five year low as only 50% of those questioned believe house prices will increase in the next twelve months. This is the lowest number by percentage since April of 2013. At that time, only 45% believed house prices would increase in the coming year.

Challenges to buying property were also part of the survey. More than 60% see accumulating enough for a down payment and 42% see job security as barriers to buying a home. Surprisingly, only 15% view an increase in interest rates as a barrier to purchasing a home.

Still, more than 51% of those surveyed see this time as a good time to buy property.

Although many are less than optimistic regarding the near future of the housing market and overall economy, house owners are demonstrating their belief in the power of remortgage as that sector continues to be quite strong with participants.