According to the Royal Institution of Chartered Surveyors, the housing market stumbled through to the end of last year and is not starting 2017 as strong as possible. Housing sales began falling off during Q4, thus creating more speculation about the coming months. Many estate agents doubt the possible strength of the market and have pulled back from any hawkish forecasts. One sector however remains quite strong and estimates for high levels of activity continue. That sector is remortgage.

December especially saw house sales fall off and that left many agents questioning estimates for the first quarter and beyond of the New Year.

RICS commented on the coming months, saying: “The number of house sales in the UK faltered in December, and predictions for expected new sales over the next three months were also pared back.”  

Current house owners are being urged to make a move and remortgage as interest rates remain at such low levels. There remains an average savings of almost £50 per month, which equates to £600 per year.

Remortgage is expected to remain strong for the short term, according to many close to the UK housing market. Housing sales conversely are expected to more than likely slow in the coming weeks.

RICS added: “With regards to the outlook, near-term price expectations softened for the second consecutive report, suggesting immediate price expectations may be easing slightly given slower demand growth.”

Simon Rubinsohn, chief economist at Rics, commented on housing market estimates, saying: “The latest survey provides further evidence that both price and rent pressures are continuing to spread from the more highly valued to more modestly valued parts of the market for good or ill.”