[ad_1]
Image copyright
fake pictures
The government has established plans to restart England’s property market, which has been frozen since the coronavirus closed.
Effective immediately, real estate agents can open, visits can take place, and removal companies and carriers can restart operations.
Housing Secretary Robert Jenrick said the changes must take place under the rules of social distancing and security.
There are an estimated 450,000 buyers and tenants with plans on hold.
Jenrick said: “Our clear plan will allow people to move into their homes safely, covering every aspect of the sales and rental process, from visits to removals.
“This critical industry can now move forward with confidence, and those who patiently wait to move now can.”
Meanwhile, the property markets in Wales, Scotland and Northern Ireland remain closed and their land registries are running a reduced service or are not registering transactions.
- Coronavirus: house movements and visions to resume in England
- Coronavirus: £ 82 billion worth of property sales ‘on hold’ amid closure
In another move to unlock the housing market, Jenrick announced a series of measures for the home construction sector, including:
- Allow builders to agree to more flexible work schedules with their local council, such as amazing arrival times to ease the pressure on public transportation
- Allow local councils and developers to post planning apps via social media, rather than relying on posters and brochures
- Support smaller developers by allowing them to defer payments to local councils to facilitate cash flow
Stewart Baseley, executive president of the Federation of Home Builders, said: “The resumption of work will play an important role in helping the economy recover, as well as in delivering the homes the country needs.
“It should also give the supply chain the confidence it needs to speed up its own restart.”
Jenrick said Public Health England’s guidance should be followed. For example, anyone who is advised to isolate himself should continue to do so and not move home.
This announcement will test the hope and belief of the housing sector that a wave of pent-up demand between buyers and tenants is ready to be launched.
However, the reality is that many people’s finances are now less secure than they were a few months ago when they were preparing to move.
Expect much more haggling over the price from both parties who have not yet formally agreed on what they will pay or accept, especially if getting a mortgage is more difficult.
Real estate agent Savills has already suggested that people who still have money to find a new place can now rethink their priorities.
A spare room and a good Wi-Fi connection may have suddenly become more attractive when working from home, and a large garden can be even more of a gold ticket for anyone with children.
The new guide includes permission for people who operate in businesses to operate in homes, provided they follow social distancing advice.
But Jonathan Hopper, chief executive of real estate consultants Garrington Property Finders, believes there is still demand from buyers for new properties.
“The crash may have stopped conventional displays, but there are many signs that some potential buyers have used the past six weeks to showcase,” he said.
“Few things are more likely to make people want to move than being locked up in the same four walls for weeks, and property portals have seen traffic increase by as much as a fifth.”
Impact of blockade on housing
The Zoopla property website had previously estimated that some 373,000 property sales had been suspended during the shutdown, with a total value of £ 82 billion.
Agreed sales were running at a tenth of the normal level for the time of year, and were similar to activity seen in late December, he said.
Spring is usually a busy time for the housing and mortgage markets.
Buyers left the property market for obvious reasons just before and after the introduction of virus restrictions, which started on March 23.
This led to a 70% drop in buyer demand over the course of a few weeks.
On the other hand, rental demand is 42% lower since the beginning of March, according to Zoopla.
