The UK housing market experienced a slow period following a strong start to the New Year. House sales fell, growth in house prices declined, and remortgage saw two months of erosion in activity. Last year proved to be a tumultuous one with political waves and policy change. Although the year finished on a high note which transitioned into 2017, a slowdown can sometimes take its toll and reverse trends. Fundamentals have slowed for a few months, but that has not affected optimism in the market.

A recent survey conducted by Halifax indicated optimism is quite present and has not waivered even though many sectors saw struggling data during the first few months of the year.

The survey showed a positive gain in positive sentiment regarding growth in house prices moving forward. In October of last year the rating of sentiment stood at +42. Since then, the rating has increased to a rating of +44. This rating displayed sentiment of opinions in house prices rising within a year’s time.

Almost six out of every ten who participated in the survey believe the average price of their house would increase over the next twelve months. Only one in ten believe to the contrary.

This suggestion of unflappable fortitude is not uncommon to the housing market. Following years of growth in house prices, many believe slowdown in the market is just temporary and stability will pick up in a short amount of time. Residents believe growth in many sectors is not far behind.

The remortgage sector above many is expected to remain strong due to low interest rates and lenders offering a wide range of mortgage lending tools with low administration costs.