What do the new restrictions mean for the property market?
The Government have confirmed that the property market can remain open during tighter restrictions in England. The regulations state that individuals may leave home to undertake any of the following activities in connection with the purchase sale, letting or rental of a residential property;
– Visiting estate agents or lettings agents, developer sales offices or show homes
– Viewing residential properties to look for a property to buy or rent
– Preparing a residential property to move in
– Moving house
– Visiting residential property to undertake any activities required for the rental or sale of that property.
All of the above must be carried out in a Covid secure way and in accordance with the guidance. You must review the agents Covid policy before carrying out any of the above activities.
Most agents are working with a ‘closed door policy’ to minimise contact with clients where possible and only meeting clients where necessary to undertake viewings and valuations.
How will this affect the property market as a whole?
Only time will tell, however by keeping the market open, it will enable transactions to continue and therefore stay stable. We may inevitability find that the market does quieten however, given the time of the year and the current measures, this is to be expected.
Our governing body Propertymark, are consistently reviewing their guidance and informing us of any changes. Our website and Covid policy are assessed regularly to ensure the safety of our clients and team members.
If you have any questions or concerns, contact our team who will be happy to help.