Residential: Market Update January 2021

Tue 5 January 2021

Yesterday evening, we were once again told to stay at home except in specific circumstances, however, the property market has been permitted to remain open in line with existing Government guidance. 

Since the announcement, we have understandably received a high volume of enquiries with questions as to how the industry will operate and how this will affect our vendors and buyers. It also places the onus on agents to operate in a safe and responsible manner. With the latest variant of COVID-19, the transmission rate is so much greater, therefore we are being extra cautious to ensure everyone’s safety.

We absolutely want to help as many people as possible to move home safely and successfully.

I HAVE ACCEPTED AN OFFER/HAD AN OFFER ACCEPTED, CAN I STILL MOVE?

Under Government guidance, you absolutely can still move home. Estate agents, solicitors and removal firms are still operational; however, you must be prepared that procedures will be different to ensure the safety of all parties. If you intend to use a removal firm, we suggest asking them for a copy of their procedures. Also book your dates with removal firms as soon as you have a likely completion date as there is likely to be high demand in the run up to the end of March when the stamp duty holiday may end.

Unless it is absolutely necessary, avoid enlisting the help of other households to facilitate your house move. 

We suggest that you speak to your solicitor in regard to flexible moving arrangements to allow the purchase to be delayed in the event that an individual in one of the parties contracts COVID-19 or has to self-isolate.

CAN I PUT MY PROPERTY ON THE MARKET?

Yes, Estate Agents are still operational, and you are able to list your property for sale. There is still significant activity in the property market and demand remains strong. We are however initially encouraged to use virtual tours to help people filter out properties. 

In relation to the safety of you and our team surrounding property valuations, photography and viewings, please read our mandatory guidance for property inspections, click here. 

CAN I VIEW PROPERTY?

Yes, but before any physical viewing takes place, all reasonable efforts should be taken for the party involved to view virtually so that they can eliminate any properties that are unsuitable and only visit properties in which they have a serious interest. We understand that physical viewings are still essential to the house buying process, but need to keep these to a safe level.

To view our mandatory guidance for viewing property, click here.

CAN I VISIT MY ESTATE AGENT’S OFFICE?

Whilst our team are fully operational, you may only visit our offices if an appointment has been made in advance. You are required to wear a face covering upon entering our offices and will be asked to check in via the NHS track and trace app or give the relevant information to our team. We would prefer to speak to you via video call or telephone if at all possible.

Once again, we would like to reiterate the importance of the safety of you and our team, and remind you of our mandatory guidance, which takes into account UK Government Guidance to the Public and UK Government Guidance to the Industry in relation to the Coronavirus outbreak.

Click here to read our mandatory guidance. 

If you have any further questions, please do not hesitate to ring your local office. We are here to help with any property related questions, or simply if you want a chat with our friendly team as we must all help each other in these difficult times.

Stay safe.

Robbie Hutchinson | Director