Property market to re-open as viewing and moving properties allowed once more
The property market is to re-open tomorrow with restrictions to activities related to the purchase, sale, letting or rental of a residential property set to be lifted.
The coronavirus lockdown has meant buyers and renters have had to put their property plans on hold.
And there are approximately 373,000 property purchases currently on hold due to COVID-19, worth a combined estimated value of £82bn, according to Zoopla UK’s UK Cities House Price Index.
However, an amendment of the Health Protection (Coronavirus, Restrictions) (England) Regulations 2020 has been made and is set to be laid before parliament in the morning.
This will see visiting estate or letting 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 home and visiting a residential property to undertake any activities required for the rental or sale of that property allowed once more.
David Cox, chief executive of ARLA Propertymark and Mark Hayward, chief executive of NAEA Propertymark, said: “It’s great news for consumers and the industry that the housing market is being opened up and people can let, rent, buy and sell properties again.
“The new regulations provide clarity to agents and will allow them to deal with pent up demand from consumers. It’s also a step to reinvigorating the housing market and will be a boost to the economy.
“Safety of course will be paramount, and we would encourage everyone to ensure that they follow government guidelines closely to protect others and themselves.”
The amendments are set to be laid before parliament tomorrow at 9:30am and will come in to effect the same day. It is not yet clear if the same changes will be adopted in Wales, Scotland and Northern Ireland.
The full amendments can be read here.