The UK Government has today taken positive steps to kick start the economy by easing Coronavirus restrictions and providing clarity to the housing market & related industries.
Housing market COVID-19 restrictions eased
The Government has today introduced new legislation to help ease movement restrictions for both residential buy-to-let landlords and home movers.
The new housing market legislation came into force on the 13th May 2020 The Health and Protection (Coronavirus, Restrictions)(England)(Amendment)(No. 2) Regulations 2020
This new legislation amends restrictions which under the old regime meant, that home moves could only go ahead if necessary.
The previous regulations caused the property market to come to a standstill due to essential social distancing guidelines.
Many property investors and home movers were forced to put on hold; there plan to move.
A significant number of estate agents, surveyors and solicitors shut their offices as the property market came to a halt.
A research conducted by property portal Zoopla, reveals there are an estimated 373,000 property sales on hold due to the virus. Easing restriction for the short term will mean a spike in activity in the property sector.
The following business will be able to commence trading under the new legislation:
Property sales – Estate Agents
Residential & Commercial Letting Agents
However, the guidelines stay alert still means where ever it is possible to work from home, we should continue to do so and each business needs to put in place a procedure how to conduct business in a safe environment.
The director of Mayfair Estate Agents of Grimsby Mr Khan said: “We closed our offices, it was far too risky to stay open even if we could, and we still remain shut. We did as much as we could from home in the last few weeks, and now, we will be re-opening next week. Currently, we are erecting screens to our reception area and writing a procedure manual so we can safely deal with every aspect of our daily business activity.”
He added: “We still have concerns over door handles, and social distancing, our offices in some areas does not allow us to maintain a safe distance from visitors or other staff. We are still grappling with some aspects of how to create an environment that we can be satisfied is safe for our staff and visitors”. He said.
Housing market can start moving again
Under the new legislation introduced today, restrictions have now been partly lifted, with guidelines on how to adapt to the new normal.
The new housing market legislation states:
“to undertake any of the following activities in connection with the purchase, sale, letting or rental of a residential property—
- visiting estate or letting agents, developer sales offices or show homes.
- viewing residential properties to look for a property to buy or rent.
- preparing a residential property to move in.
- moving home.
- visiting a residential property to undertake any activities required for the rental or sale of that property;”
Out with the old, in with the new
This move will be welcomed news for millions a sign things are returning to normal. The reality is, we are not returning back to normal. We are returning to a new way of doing things, with new habits and new procedures.
World leaders have a tough decision to make, it would seem they have two paths to choose from, getting it wrong will mean loss of further lives, jobs and more. One option is to save lives and keep the lockdown in place and, in turn, let the economy free fall. The alternative is to ease the restrictions with a new normal, trusting its people to be alert and sensible.
We all need to be alert, sensible and change our habits to adapt to new ones.[bctt tweet=”Housing Market COVID-19 Restrictions Lifted” username=”Landlord_UK”]
Source: British Landlords Association
Author: Sarah Featherstone
Date: 13th of May 2020