Associate Solicitor Manisha Bhula, head of our Residential Property team, has welcomed the reopening of estate agents in the region from today, 13 May 2020, following updated Government guidance.
In Reading, Henley-on-Thames and the surrounding areas we are very fortunate to work with and to be routinely recommended by a number of fantastic estate agents and we look forward to continuing our excellent working relationship with them as they begin to reopen their offices.
On 12 May 2020, the Government confirmed that whilst maintaining social distancing and other measures, estate agents in England were able to reopen and that viewings could once again be carried out, with removal firms and those involved in the conveyancing process allowed to restart their businesses.
Nationally, an estimated 450,000 property transactions were placed on hold back in March and many of those buyers and sellers will be very keen to get things back underway. Working remotely, our specialist Residential Property team is here to advise new and existing clients every step of the way, and to help them to complete their moves as smoothly and as quickly as possible.
Research published last month by Zoopla showed that sellers were continuing to list their homes, while Halifax’s data demonstrated that on average UK property prices in April were 2.7% higher than in the same month a year earlier.
In terms of the longer term impact of the COVID-19 pandemic on the property market, the property market in Reading, Henley-on-Thames, and indeed the wider Thames Valley, is typically a very healthy one and among the most buoyant in the UK, and there is no reason to expect that this will change significantly in the medium term as lending opens up and confidence begins to return. At the heart of the region, Reading remains one of the best connected and fastest growing towns or cities in the UK and indeed Europe.
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This article is intended for the use of clients and other interested parties. The information contained in it is believed to be correct at the date of publication, but it is necessarily of a brief and general nature and should not be relied upon as a substitute for specific professional advice.