Uncertainty within the UK housing market has reigned for some time now and that feeling seems to be shared by most that are on the cusp of a major moving home decision. Housing data indicates those locked into the possibility of buying or selling property have placed that decision on the back burner and decided to wait. Committing to that type of decision at this point is risky they feel and does not allow for the potential best outcome. Brexit is coming and with it some new opinions regarding the housing market.

Consumer confidence is fragile. Optimism is fleeting at best. The current amount of uncertainty within and surrounding the housing market is palpable. As much as many housing experts have had little to say regarding what will come next in this market, some are now emerging with opinions regarding property values in the near future.

Howard Archer commented on the current climate of the housing market and what could be expected, saying: “We suspect that the housing market will remain stuck in low gear over the coming months. Although there are varying performances across regions with the overall national picture dragged down by the poor performance in London and parts of the South East.”

Archer added: “Consequently, we expect that overall house price gains across the UK over 2019 will be limited to around 2.0 per cent, similar to the likely outturn close to 2.0 per cent in 2018. If the UK leaves the EU in March without a Brexit deal, house prices may fall modestly in 2019.”

Remortgage activity is currently in high gear and is expected to remain there for some time. Lenders are pushing hard to finish the year strong in an attempt to reach lending goals. Deals featuring low rates, numerous incentives, and even cash back are currently the norm.