Multiple areas of the UK housing market have shown more than just promise in the last six months. They have actually experienced huge gains and droves of activity. This is especially true for the remortgage sector. Remortgages have been flying off the shelves of lenders and financial institutions since the announcement of a possible increase in interest rates which is set to take place by the end of the year. This has further increased the amount of confidence concerning the short term expectations for house price growth across the country.

According to Halifax Housing Market Confidence Tracker, many still believe property prices will grow through the coming year. The majority of people are under the impression prices will increase. The Halifax optimism index regarding the last quarter of last year paints quite an impressionable picture. In May of last year, the index measured a +68. Then in December the number had fallen to +61.

Although the market has fluctuated during the last half of the year, it finished slightly down compared to its peaks during other parts of the year.

Craig McKinlay of Halifax, commented on the latest figures within the market, saying: “Solid economic growth, rising real earnings and falls in already very low mortgage rates are all stimulating housing.”

McKinlay added: “At the same time, there is an increasingly acute imbalance between supply and demand, which is causing property prices to rise at a robust pace.”

As house prices are expected to continue their upward trajectory, remortgages are expected to do the same and house owners are not missing out on the opportunities.