House prices in the UK are expected to continue on an upward trajectory as there still remains a shortage of properties coming onto the market. With supply low and demand strong, and in some areas growing, the competition for purchasing property will push prices higher. According to many reports, all areas in the UK are due to experience house price growth except for London which could see a decline in house prices, though a very small decline.

In a November report from the Royal Institution of Chartered Surveyors, the supply of properties being put on the market remained low in the face of ever growing interest from hopeful buyers.

The continued strength of the housing market has been both a surprise and an optimistic outcome following the Brexit vote in June. Many experts had forecasted gloom and doom to the housing market which is so important to the UK economy.

Yet, home buyers have remained strongly interested in the housing market due to continued low interest mortgages being offered by lenders.

In turn, the resilient housing market and low interest rates are expected to bring more homeowners out to take advantage of remortgage opportunities. Currently the most popular remortgage products are those with low interest fixed rate deals.

Cold winter months normally cool off the housing market, but it is yet to be seen if the competition for available property, historically low interest rates and attractive deals from lenders will be too good to miss out on and keep interest strong for property purchases despite inclement weather.