The property market in Spring earlier this year was frozen to a complete halt during the first lockdown. Now with Britain in the second lockdown of 2020, there is some good news for the housing market – it will remain open all throughout the second lockdown, unlike earlier in the year.
What parts of the property industry are still open?
In person viewings, valuations, new homes sites and surveys can continue to take place – as long as government guidelines of being covid-secure are followed.
Letting agents, estate agents, construction sites and tradespeople should continue to work as normal, the government has advised.
Cleaning companies, removals, and signage companies, inventory clerks are all essential when it comes to end of tenancy check outs and check ins – they continue to operate.
Property renovations and home improvements can proceed and to support them, builders’ merchants, plumbing shops, and hardware stores remain open. Some services may be restricted and for that reason, we recommend using click and collect for goods if possible or organizing deliveries in advance – this is an excellent way you can ensure things stay on track as much as possible if you are undertaking any works.
Agents must make decisions based on their organisations and ensure that viewings and valuations in line with the latest government guidance – in a secure, controlled way – to ensure the safety of all customers, and staff.
With Christmas fast approaching, many will inevitably need to travel in/out of the UK in the coming weeks . If you are a HMO landlord – be sure to ask any tenants moving into HMO’s where they will be flying in from. If that country is on the 14-day quarantine list – they will need to self-isolate somewhere else alone for 14 days before being allowed to move into a HMO where there are other residents.
Will the property market perform better during Lockdown 2.0 compared to the first lockdown?
We all continue to see how the property market performs during the second lockdown – whether it will boom with activity like after the first lockdown as people rushed to move after the lockdown. There is a good chance the demand may not be as up and down as before/after the first lockdown, as this time the property market continues to operate as normal.
With rumors that the government will extend the stamp duty holiday beyond March 2021, it’s possible that the property market will continue trading upward with prices increasing like they did after we emerged out from the first lockdown.
You can continue to view properties and move throughout the process. It’s essential that all those working in the property industry continue to do their bit to stop the spread of the virus – wear your mask’s and even gloves when applicable, and think of others and how you can help. Virtual valuations and viewings are still important as ever and should still be provided to help those tenants who don’t want physical viewings during this time.