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| Coronavirus: England housing market is released from lockdown | |
| (32 minutes later) | |
| The government has set out plans to re-start England's housing market, which has been in deep freeze since the coronavirus lockdown. | |
| Effective immediately, estate agents can open, viewings can be carried out, and removal firms and conveyancers can re-start operations. | Effective immediately, estate agents can open, viewings can be carried out, and removal firms and conveyancers can re-start operations. |
| Housing Secretary Robert Jenrick said the changes must be carried out under social distancing and safety rules. | Housing Secretary Robert Jenrick said the changes must be carried out under social distancing and safety rules. |
| It is estimated that there are 450,000 buyers and renters with plans on hold. | It is estimated that there are 450,000 buyers and renters with plans on hold. |
| Mr Jenrick said: "Our clear plan will enable people to move home safely, covering each aspect of the sales and letting process, from viewings to removals. | Mr Jenrick said: "Our clear plan will enable people to move home safely, covering each aspect of the sales and letting process, from viewings to removals. |
| "This critical industry can now safely move forward, and those waiting patiently to move can now do so." | "This critical industry can now safely move forward, and those waiting patiently to move can now do so." |
| In another move to unlock the housing market, Mr Jenrick announced a series of measures for the house building sector, including: | In another move to unlock the housing market, Mr Jenrick announced a series of measures for the house building sector, including: |
| Stewart Baseley, executive chairman of the Home Builders Federation, said: "A resumption of work will play a major part in helping the economy recover, as well as delivering the homes the country needs. | Stewart Baseley, executive chairman of the Home Builders Federation, said: "A resumption of work will play a major part in helping the economy recover, as well as delivering the homes the country needs. |
| "It should also provide the supply chain with the confidence it needs to accelerate its own restart." | "It should also provide the supply chain with the confidence it needs to accelerate its own restart." |
| Mr Jenrick said guidance from Public Health England must continue to be followed. For example, anyone advised to self-isolate should continue to do so and not move home. | Mr Jenrick said guidance from Public Health England must continue to be followed. For example, anyone advised to self-isolate should continue to do so and not move home. |
| The new guidance includes the permission for trades people to operate in homes, provided they follow social distancing advice. | |
| Lockdown impact on housing | |
| Property website Zoopla had previously estimated around that some 373,000 property sales had been put on hold during lockdown - with a total value of £82bn. | |
| Agreed sales were running at a tenth of the normal level for the time of year, and were akin to the activity seen in late December, it said. | |
| Spring is usually a busy time for the housing and mortgage markets. | |
| Buyers deserted the housing market for obvious reasons just before and after the introduction of virus restrictions, which began on 23 March. | |
| This led to a 70% drop in buyer demand over the course of a few weeks. | |
| On the other hand, rental demand is 42% down since the start of March, according to Zoopla. |