The British Property Market is Back in Business

Picture of Iain English

Iain English

Housing Secretary Robert Jenrick has announced that from today, anyone in England can move home, effectively turning the release valve on the pent-up pressure caused by those mid-transaction of property purchases and those who need to move rented accommodation.

Following his statement, The Ministry of Housing, Communities and Local Government (MHCLG) released a press release where it read:

From today anyone in England can move home if they follow new guidance published by Housing Secretary Robert Jenrick.

Since lockdown restrictions were implemented in March, more than 450,000 people have been unable to progress their plans to move house.

All buyers and renters will now be able to complete purchases and view properties in person, while estate agents, conveyancers and removals firms can return to work while following social distancing guidelines.”

“This critical industry can now safely move forward, and those waiting patiently to move can now do so.”

With recent gloomy reports on the shrinking economy, this news is being received as a welcome antidote to the regular downbeat news articles. Clearly for those working in housing related activity it is great news, but it is also a very positive step for the greater economy on account of the substantial contribution the sector makes to the GDP.

Andy Marshall, Chief Commercial Officer, Zoopla, said:

“We’re delighted that the Government has recognised the need to restart the property market, permitting estate agents to operate – within the parameters of common sense social distancing.

“Now is the time to get the market moving and to restore it to full health.”

Amid the sense of optimism we need to be aware of the risks of going back to work, and be as mindful as possible to set and keep to social distancing practices in the work place and while conducting viewings. The last thing anybody would want would be to find that our relaxing of lockdown ends up in proliferations of infections among the population, and so far, the jury is out as to whether the governments relaxation policy is the right one.

Caution is the best approach, and if everyone is diligent in applying social distancing and the government’s safety guidance (which is published here), then we have a fine chance that this will be a moment and decision to be praised and grateful for.