Concerns about the Middle East conflict are hitting the confidence of British buyers.

The survey released on Thursday showed that the UK housing market has lost momentum. Due to buyer concerns about the impact of the Middle East conflict and the possibility that rising energy prices could push up mortgage rates, housing demand is weakening. The Royal Institution of Chartered Surveyors' new buyer inquiries index plummeted to -26 in February, lower than January's -15, hitting the lowest level since December last year. The survey covered the period from February 23 to March 9, including the outbreak of the US-Iran war on February 28. Tarrant Parsons, Director of Market Research and Analysis at RICS, said: "The deteriorating geopolitical environment has significantly hit market confidence. The recent increase in oil prices and energy prices has also increased the possibility of mortgage rates remaining at higher levels for longer periods of time."