The current status of the housing market has kept home buyers interested despite the expected impact from Brexit. Lower asking prices and for some lenders historically low interest rate mortgages have combined to make getting on the property ladder or moving home cheaper. The housing market has surprised experts with home buyers staying busy purchasing properties, including first time buyers.

First time buyers have been so busy in the housing market that they are expected to be the largest group of home buyers in 2019 and continue being the leaders in the market for the next few years.

With more interest in buying homes, landlords have chosen to cool off their activity in the market. Lending for buy to let landlords declined by 11% in September when compared to the same month last year according to UK Finance. The previous month’s annual comparison was also a decline of 11%.

The volume of buy to let lending declined in September by 8% from August, and the annual comparison revealed a decline of 3.5%.

Remortgage lending to landlords remained steady in September in annual comparison and declined by 4% from August.

Home movers were also a demographic that stayed away from the housing market. More homeowners are choosing to stay put and instead are interested in remortgages rather than home buying.

With the current lending market making borrowing cheap and home sellers aggressive in lowering asking prices to secure a buyer, it is expected that home buying will out pace buy to let in the housing market and lending market throughout the rest of the year.