Attendees at the recent Property Forum Dinner argued that artificial stimulants along will not repair the market.
They said the economy recovering was the only thing that could guarantee long-term sustainable confidence in the mortgage market.
The event was one of the largest networking events for the mortgage industry with more than 150 business leaders attending.
A number of issues were debated at the event including the impact on the industry of Alternative Business Structures (ABSs) and the amendments made to the Estate Agents Act.
Marshall King, chief executive of Decision Insight Information Group — Europe, which includes SearchFlow, Decision Insight Hub, Millar & Bryce, Rochford Brady, Lawlink NI and Xit2, hosted the event.
Mr King said of the debate: “The number of initiatives and the amount of energy being expended by firms looking to make a positive difference to the property market has been extraordinary.
“Alongside these bottom up efforts there‘s also been a number of top down artificial stimulants — but for the market to be put back on track for sustainable growth we need the economy as a whole to begin to recover.
“In the meantime, what we as an industry need to do is agree on the most workable ideas — such as reducing fraud a universal panel validation tool — in order to give them every chance of making a difference.”
