Second wave of virus would be disaster for real estate

A second wave of the COVID-19 pandemic would spell disaster for the UK’s housing market, an industry expert has warned. The real estate sector has already been plunged into uncertainty following the outbreak of coronavirus, with house sales suspended and the industry put into stasis. However, if a second wave of the virus hits later this year, the effects could be “disastrous”. Director of the Association of Homebuyers, Jonathan Rolande said if a vaccine isn’t formulated, it could lead to chaos for the industry. “If there’s a second wave, it could be disastrous,” he said. “The fear will spook the market. It will affect buyers and banks with their ability to lend. If we have round two in autumn or winter it could hit the market hard.”

Daily Express (29/04/2020)