In a move to try and stimulate the economy and provide further clarity to the current coronavirus restrictions on movement, the Government has today brought in new legislation to aid both home movers and residential buy-to-let landlords.
The new housing market legislation, which will come into force from today (13th May 2020), amends previous restrictions which meant that home moves could only go ahead if strictly necessary. These previous regulations resulted in a general slow-down of the market with many home movers and property investors alike placing their transactions on hold and property related businesses, such as estate agents and surveyors, furloughing significant numbers of staff or, in some cases, closing all together.
These restrictions have now been, for the most part, lifted, in what will surely be changes that are gratefully received by anyone involved in the property market.
The Health and Protection (Coronavirus, Restrictions)(England)(Amendment)(No. 2) Regulations 2020 come into force from 13th May 2020 and permit any member of the public:
“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;
visiting a residential property to undertake any activities required for the rental or sale of that property;”
After two months during which the activity in the housing market has decreased substantially due to the coronavirus, hopefully we will soon see estate agents reopen their doors and surveyors return to valuing properties.
Of course the social distancing rules will still apply, so we may well see some unusual practical solutions, such as home owners waiting in the garden whilst a house viewing takes place. But with a little careful planning, hopefully we will see activity in the housing market rise sharply.
The team deal with all residential property sales and purchases, and can ensure that you get the best service and quality advice for your home move.