UK housing experts recently expressed concerns regarding the short term future of the market claiming challenging times might be the prognosis. A recent increase in the base interest rate combined with slower sales reported by large estate agents and a slowdown in house building all create a more sour outlook for the next twelve months. Estate agent Countrywide mentioned the final figures for this year will lag behind those of last year.

Two well-known firms within the UK housing market have just laid out comments regarding the coming months and what to possibly expect. For estate firm Countrywide, sales fell more than 6% in the last quarter indicating what is possibly on the horizon.

Agents mentioned many sellers are holding their pricing firm and waiting on those buyers willing to meet their price tags and buyers are waiting for prices to fall. This is creating a giant pause within the market which needs to stay in motion at this time. The selling season has just ended and the holiday season is quickly approaching which is naturally a slow time of the year.

Overall, recent public figures indicate house prices are either remaining stagnant in many areas or falling. In the capital city of London, property prices are falling as fast as they did in the year 2009.

Remortgages continue to be popular, even with the recent increase in interest rates. Experts suggest those who have not picked up a new fixed deal to consider it. Many lenders are still offering attractive deals with low rates attached and affordable closing costs.