"While the country faces a second national lockdown, the Government has rightly decided to keep Britain’s housing market open."
In a Tweet on Saturday evening, Housing Secretary Robert Jenrick said: "Q: Can I still move house? A: Yes – the housing market will remain open throughout this period. Everyone should continue to play their part in reducing the spread of the virus by following the current guidance."
The rules surrounding moving home were not addressed by Boris Johnson during his Saturday evening speech or in the new lockdown laws published on the Government's website.
Earlier today, Countrywide Surveying Services confirmed that it will be able to continue 'normal' service in England once the national lockdown commences.
The residential property surveying industry has received confirmation from the Ministry of Housing, Communities & Local Government that physical property inspections can continue to be provided. RICS has worked closely with all the major valuation firms and the Government over the weekend to secure clarification.
Kate Davies, executive director of IMLA, commented: “While the country faces a second national lockdown, the Government has rightly decided to keep Britain’s housing market open. Lenders, advisers, surveyors, and conveyancers are already experiencing unprecedented levels of demand from consumers eager to take advantage of the Government’s stamp duty holiday, which is due to end on 31st March 2021, and also the Help to Buy scheme, which will be available only to first-time buyers from 1st April 2021. They now face the task of helping thousands more consumers potentially requesting payment deferrals as borrowers struggle to meet their mortgage repayments during the lockdown. Closing the housing market at this time would have only added to this pressure on the sector by creating yet another backlog of demand once lockdown ends.”
Kevin Roberts, director of Legal & General Mortgage Club, said: “Britain’s housing market will remain open despite a second national lockdown and buyers will be able to view and move property over the coming weeks. However, the housing sector is currently experiencing unprecedented demand from those looking to buy and research from Legal & General Mortgage Club shows that consumers are already facing a four month wait to complete their home buying journey. For anyone planning to take advantage of the Government’s Stamp Duty holiday, they should speak with an independent mortgage adviser as soon as possible to get their housing plans on the move, before it’s too late.”
Mark Hayward, chief executive of NAEA Propertymark, added: “We welcome the news that the housing market is to remain open throughout this second lockdown period, and it is essential that all agents continue to play their part in reducing the spread of the virus through following all relevant guidance. Agents must operate in accordance with government and Propertymark guidelines, to keep the market moving through these uncertain times.”
