Housing market reopens for business

Estate agents in Wales and housebuilders are anticipating a surge in enquiries from buyers following the end of Wales circuit breaker lockdown which means branches and show homes can reopen and viewings and moves start again from today.

Wales entered a circuit-breaker lockdown on Friday 23 October until today, which meant the closure of all non-essential shops, bars, restaurants, leisure centres, and unlike in England, estate agents too.

The wide-ranging measures, aimed at stemming an increase in Covid-19 cases in Wales, have meant that people in the country have not been allowed to view properties, unless done virtually.

Jonathan Morgan, director of Peter Morgan Sales & Lettings, commented: “We at Peter Morgan are very confident that the market will continue to show signs of strength for the remainder of November at least. Collecting information and details over the lockdown we know we will be busy when we reopen this Monday.”

He added: “We’ve seen a price increase of around 10% since last November and buyer interest is up a staggering 20%, however, stock is at an all-time low for available properties here in our postcodes.

“While it remains to be seen whether Christmas and seasonal impact will take effect, we are certainly ready for a busy month ahead.”

Despite high demand from buyers, transactions are expected to fall in the coming weeks, owed in part to the firebreak, according to Melfyn Williams, director at Williams & Goodwin.

He said: “The firebreak has affected the numbers of properties coming to the market which in turn will affect numbers of sales and lets in coming weeks, however, demand remains with properties already being pre-booked for viewings by qualified viewers in a safe manner following guidelines.

“After the first lockdown the industry has in effect been trying to catch up, which saw a surge in activity in the short term; we don’t expect the same surge to follow the two-week lockdown although pre-bookings do indicate activity will increase.

“The firebreak lockdown coupled with seasonal reduction in activity may see the market cooling a little – although people still do have time to purchase now and take the advantage of the Land Transaction Tax holiday.”

With the property market open and home moving activity permitted once again, people wishing to move home can now make the necessary arrangements with agents to go out once again, provided it is done so in a safe manner keeping to the Covid secure guidelines.

Paul Offley, compliance officer at The Guild of Property Professionals, said: “All other activities relating to home moves, such as property preparation, the removal process, handover of keys, surveys and valuations will also once again be permitted, with agents, valuers, surveyors and removal workers all allowed into a property while adhering to the rules.

“The Welsh government has stipulated that everyone involved in the home moving process is required to follow social distancing, handwashing and respiratory hygiene guidance to ensure everyone is kept safe and the spread of Covid-19 is minimised.”

He also explained that the guidance issued by the Welsh government also states that travelling to and from Wales and England for the purposes of move home will also be permitted once the lockdown restrictions are lifted.

Offley added: “The guidance states that Welsh residents will be allowed to travel to England for the purposes of moving home or other related activity, and similarly, English residents wishing to move to Wales will also be able to allowed to travel within Wales for the purposes of moving home.”

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