How the property market is performing during lockdown

23 Sep 2020

Britain’s housing market is steadily moving despite the coronavirus-led restrictions which have been implemented by the government. 

Transactions are on the rise, with the industry finding ways to push forward property sales all the while abiding by the Covid-19 regulations and guidelines. 

Although the nationwide lockdown was eased months ago, some regions of the UK are still under partial lockdown, especially parts of the north-west including Greater Manchester and other north-east areas in the Midlands.

The latest data reveals that as a second wave of infections emerges in the UK, more lockdown restrictions could be rolled out. How will this affect the property market? 

Although the property market witnessed a drop in activity at the height of the quarantine period, this have largely gotten back on track. Estate agents and lettings agents have adapted to the ‘new normal’ by introducing digital and virtual viewings. Solicitors and conveyancers have also made efforts to continue their work remotely as much as possible.

The government has also published a list of national guidance, available for those buying, selling, and moving properties. Furthermore, those areas under local lockdown have a specific list where property market activity can continue, despite the restrictions put in order.

The private rented sector has also remained buoyant over the past six months. Demand for tenants is on the rise, while buy-to-let investors are eager to put their properties on the market while activity is still flourishing. 

Technological advancements have facilitated much of the property management process, ensuring that the housing market does not come to a standstill, but rather adapts to the new way of living that several have been forced to get used to. Aside from virtual property viewings, there are also a number of mobile applications that are available for both landlords and tenants to use in order to ensure a safe and secure property transaction.