House prices in the UK had a slow start to the year 2017. So far, the year 2018 is proving to contain a much stronger start than last year. For houses across the country, experts are much aligned with their forecast of growth over the entire twelve months this year of only around 2%. Brexit negotiations continue, wage growth has increased only slightly, and inflation remains an issue for the entire country, although it has slowed a bit. These factors combine to form a housing market which is challenged to find growth around any corner.

House prices so far have grown quite fast in 2018. The combined value of the UK housing market has increased by almost 1.5%, or £114bn. Certain areas of the country have outpaced other parts of the country in regard to growth. So far, the area which has experienced more property value increase is Sidcup in Kent, according to the latest housing data from Zoopla.

The average cost of a property in Sidcup in Kent during the month of January was £406,729. Over the next two months, property in the area increased in value by almost 3%. At the end of the third month, or the end of the first quarter, property in the area of Kent had topped out at £418,490.

Property value is expected to increase only 2% overall during the year 2018. This forecast is not indicative of the same amount of activity which is expected within the remortgage sector. Activity is forecasted to be quite robust over the next several months, and especially during the lead up to the potential rate hike which is forecasted for the next meeting of the Bank of England Monetary Policy Committee scheduled for the first part of May.