The government has announced that the UK housing market will remain open for business despite the second wave of nationwide lockdown due to commence on Thursday 5th November.
The announcement was made via Twitter by Housing Secretary, Robert Jenrick, and confirms that the property industry will avoid a repeat of the forced shutdown it experienced back in the spring.
The news comes as a relief for the property industry and all of those hoping to buy or sell homes over the coming months, but we will have to wait a little longer for the full details.
It is yet to be decided, for example, whether estate agents will be allowed to keep their highstreet branches open. So far, the government has simply said that agents “will be able to operate”.
Robert Jenrick said: “The housing market will remain open throughout this period. Everyone should continue to play their part in reducing the spread of the virus by following the current guidance…they will need to follow social distancing guidance that has already been published.”
Is this news as good as it sounds?
It’s important for the UK economy to maintain some strength during this second lockdown, and the housing market is vital to this effort. But the situation is fluid and this announcement could easily be reversed or revised if the scientific data about the spread of Covid-19 dictates tighter restrictions.
Our property expert, Russell Quirk, says: “For now, the government is basically saying, keep calm and carry on, and while it’s vital to try and keep the market moving, we still have to hope that this announcement has not come prematurely leading to a second, less hopeful announcement a couple of weeks from now.”
As it stands, anyone hoping to move home over the coming weeks and months can take this as a promising sign of things to come. We can be sure that the government will keep the housing river flowing for as long as they possibly can.
We’ll bring you any updates as soon as they happen.