NAEA predicts housing market could reopen in three weeks time!
If NAEA Chief Executive Mark Haywood's prediction is correct that the housing market could be reopened by the end of May/beginning of June, it will be the good news that hundreds of thousands of buyers and sellers across the country have been desperately waiting and a great first boost towards the UK's economic recovery from the Coronavirus crisis.
Mark Hayward was speaking on a Rightmove Hub webinar to agents on Tuesday morning during which he announced that the housing market could be re-opened for business in the next three weeks. However, he was careful to say that this timeline will depend upon the government's announcement on Sunday about the re-opening of the economy.
In a previous webinar, Mark had stated the profession was in dialogue with the government about how the industry the housing market could emerge from lockdown. He commented, “The government is working on how and when to get our sector back up and running and we’ve been working with MHCLG and BEIS and also conveyancers and removals firms to achieve this once the lockdown has eased.”
There are two crucial areas that will have to be addressed in order for agents, surveyors and valuers and to assist in getting the housing market up and running again. They need consent to carry out properties inspections again on behalf of sellers, buyers, landlords and mortgage lenders, and to be allowed to arrange on the ground property viewings for potential buyers and tenants. Below are some of the leaked guidance/regulations that may be issued to agents as a part of any easement in any lockdown.
For viewings, it was clarified in addition to the leaked proposals that:
- Viewings will not last more than 15 minutes.
- PPE will have to be worn
- Sellers will need to have PPE and have disinfected the property prior to viewing particularly door handles.
- Only two adults per viewing.
- Viewings will have to be staggered – There will be no promotional open days.
And for branches
- No hot desking
- Screens between work stations.
- Separate in and out doors.
- All surfaces disinfected regularly.
- In-branch and appraisal/viewings staff separated.
- Protective equipment to be supplied to staff.
After the Boris Johnson's announcement on Sunday, we hope that we will find that there is, at last, a light glowing at the end of the tunnel lockdown for the housing market and our ever-resilient RB&Co buyers, sellers, landlords and tenants.
The Robert Bell & Company Team.
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