This lockdown is not like last year where the housing market just completely went on hold. Now there is plenty of guidance from the government on how to keep safe and continue to keep the housing market moving. Persons viewing property will need a suitable face covering unless exempt of course and all of this should be discussed with the agent before arrival. Property viewing will be done by appointment limiting the amount of people on site. Sellers and agents may prefer that potential buyers view on their own with the agent outside. Agents can provide hand sanitiser and the owners should ensure internal doors are open inside the property to avoid touching handles. The guidance covers cleaning protocols to allow buyers to safely enter the house. With plenty of preparation, homeowners adhering to the guidance and regulations set out by the government through the scientists should confidently be able to continue with the sale and viewings of their home.
Technology that aids safety
There is so much technology now that really does help in limiting the amount of people crossing the threshold of properties. With comprehensive professionally measured floor plans as well as state of the art photography, many people are able to dismiss properties without ever setting foot in them. In addition to this with Matterport technology helps buyers get a real sense of the layout by facilitating a 360 tour of a property. With new developments CGI renders give buyers the ability to imagine life in that house and purchase off plan without ever having set foot in the house. Drone technology also provides buyers the chance to view the surrounding area and setting of the house before they view it. All incredible ways in which technology allows the housing market to continue moving by minimising people on site.
Impact of coronavirus the housing market
The market is still showing robust growth though this may change in the second half of 2021 if the government decides to increase stamp duty in April. Since July last year there have been rises due in part as stated to saving on stamp duty. This is galvanising people to move before the 31st of March this year. The Land Registry has published figures showing an increase of 1.2% on properties month on month and November’s figures show a 7.6% year-on-year figure from November bringing the average price property in the UK to £249,633. The Rightmove index is also showing growth of 3.3% on the year though sold house prices showing a slight dip under 1%. Nationwide have also published figures that showed a 7.3% annual rise in December alongside Halifax who reported lending was up 6%. There are still plenty of reasons to be confident in the continued growth of the property market. It is now clear that some temporary measures such as remote working will be permanent, and many more people are rethinking where they live and their proximity to their employer.