On Saturday 31st October 2020 it was announced that England would go into its second lockdown since the COVID-19 pandemic began. With the announcement dealing a second blow to many sectors being told to close their doors for another four weeks, at minimum, the housing market was left wondering where it stood.
Luckily it wasn’t too long before it was confirmed by the Housing Secretary, Robert Jenrick, that eager house buyers and sellers could continue with their transactions.
Mr Jenrick posted on the social media platform Twitter: “Housing market update ahead of Thursday’s measures: Renters & homeowners will be able to move; Removal firms and estate agents can operate; Construction sites can and should continue; Tradespeople will be able to enter homes.
“But all must follow the Covid safety guidance.”
The first lockdown saw the housing market grind to a halt with buyers discouraged from moving during this time. As a result of this, the market experienced an immediate response when lockdown restrictions were eased mid-May which saw pent up demand come to fruition.
It’s clear from the initial lockdown that the housing market plays an important role in supporting the UK’s economic recovery. Especially while the market continues to boom thanks to the current SDLT (Stamp Duty Land Tax) holiday in place until March 2021.
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