UK housing market uncertainty regarding future Brexit negotiations is creating a forecast of zero growth for property, according to a recent report out of the National Association of Estate Agents. The survey indicates less than 45% participating believe prices will remain unchanged next year. This is offset by the fact that almost one third feel first time buyers will have a less challenging time finding a spot on the property ladder.

As property remains unchanged in value during the year 2017, home owners seeking a remortgage should find success in a new deal during the year. That could change with the possibility of interest rates increasing. Many housing experts are still quite keen on the idea that now is a perfect time to obtain a remortgage due to low interest rates and lender competition.

Housing in general remains quite a hot topic as we enter a new year. Shortage of housing in particular is an area of great concern. It is estimated by the year 2020 many seeking housing in the UK will find it increasingly difficult will not only find it hard to discover something affordable, but hard to find anything period. Government is working diligently to remedy the problem.

Mark Hayward of NAEA commented on the latest housing news, saying: “It would be an understatement to say this year has not gone as expected. However, the property market is mostly still feeling the effects of events which happened last year.

“The high end London property market is suffering at the hands of increased stamp duty taxes, and while Brexit uncertainty definitely hasn’t helped repair this, it’s not the sole reason why London’s more expensive properties aren’t being snapped up at the same speed they were.”

Hayward added: “Next year, we expect it’ll be more of the same; there won’t be a ‘property Armageddon’, but things won’t get much better for first time buyers, and those looking to up or down-size.”