The UK economy faces a number of headwinds in 2020, including the impact of Coronavirus being prime amongst them. As and when markets recover, in the short to medium term, this previously buoyant housing market will not have lost the key fundamentals driving buyers to invest in homes.

This buoyancy is exemplified by the Bank of England data showing mortgage approvals for house purchases rose to 70,900 in January, up 4.4 per cent from December’s 67,930 figure. Moreover, FCA analysis reveals that the outstanding value of all residential mortgages loans was £1,499 billion at end-2019 Q4, 3.8% higher than a year earlier.

The fundamentals that have driven, and will continue to drive, demand in the housing market are multivariate and impactful, particularly in turbulent times. The 'Help to Buy' (HTB) scheme for instance, launched in 2013 to combat declining homeownership, was designed to increase homeownership by helping UK buyers get access to a mortgage. Help to Buy equity loans allow buyers to purchase a new-build home with a 5% deposit. The government provides an equity loan of up to 20% (or 40% inside London), allowing buyers to take out a smaller mortgage.

Furthermore, with many new build completions, including Bronze by Strawberry Star, nearing completion, there is a rise in buyers taking advantage of the HTB scheme. A significant factor underpinning this growth in demand is that, to date, HTB scheme has been available to both existing homeowners as well as first-time buyers, however from 2021 only first-time buyers will be able to use it.

With strong underlying market fundamentals, nearing new build completions, and anticipated market recovery in the medium to long term there are significant opportunities available to active buyers.