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Industry figures are worried public concerns about coronavirus will have an adverse effect on business, after the number of reported cases reached 115 yesterday.
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The market has had a busy start to the year, but there are fears the virus will put the breaks on activity.
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Jonathan Sealey, Hope Capital’s chief executive, said: “Over the past few months it has felt as though we were experiencing a real sea change in the market as the political arena became less of a focus.
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“We have definitely seen the busiest start to any year so far as people started looking forward to a more stable environment.
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“Unfortunately, that may well be up in the air again as nervousness surrounding the COVID-19 outbreak takes hold.”
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And Richard Pike, Phoebus Software sales and marketing director, said: “We’ve started the year well but there is one black cloud that is hard to ignore, and it is one that is already having an effect on the world’s economy.
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“How the coronavirus effect will translate down the line into the housing market is anyone’s guess, but it is unlikely to have no effect at all.”
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One commentator speculated whether the virus fears could push the regulator towards loosening mortgage affordability rules.
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Miles Robinson, head of mortgages at online mortgage broker Trussle, said: “While we’re yet to see the impact of uncertainty linked to coronavirus on the housing market, if lending continues to slow – the time might be coming for the regulator to consider a gentle easing of restrictions around affordability.”
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Source: Property Wire
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