Property sector avoids second closedown

January 16, 2021 by Heidi

Property Market

The government has confirmed that the property sector will be staying open for business, despite the decision to impose a second COVID-19 lockdown in England at the beginning of the year.

Boris Johnson announced the further lockdown a few days into January, and it is widely believed that it will remain in force until the middle of next month. However, there are differences this time, and one is that the property sector will stay open. This means viewings of properties and house moves are allowed, as long as safety is adhered to.

The Chief Policy Advisor at Propertymark stated that the company was delighted by this decision, but added that it meant estate and letting agents had a responsibility to follow all of the safety guidelines to help stop the virus from spreading.

It also represents a positive development for the mortgage industry, and it was greeted warmly by Hugh Wade-Jones, the Managing Director of Enness Global Mortgages. He told Mortgage Strategy that:

“It remains business as usual for the UK property market and as a result, it’s unlikely we will see any decline in the huge levels of buyer activity seen since last year, nor should we see property prices detract from their current upward trend.”

Wade-Jones added that shutting down the market just as people rush to complete deals before the stamp duty holiday ends would have had “disastrous” effects.

Given how important this sector is to the economy, this is excellent news, and it should see CeMAP courses remain in high demand.