Associate Solicitor Manisha Bhula, head of our Residential Property team, provides an update on the housing market following the Prime Minister's announcement of a new national lockdown.
On 4 January 2021 Prime Minister Boris Johnson announced that England will enter a new national lockdown on 6 January, until at least mid-February, with tighter restrictions to be introduced.
Unlike during the first lockdown in spring 2020, the Government has confirmed that the housing market will be allowed to remain open.
The latest guidance explains:
- You can still move home.
- People outside your household or support bubble should not help with moving house unless absolutely necessary.
- Estate and letting agents and removals firms can continue to work.
- If you are looking to move, you can go to property viewings.
- Follow the national guidance on moving home safely, which includes advice on social distancing, letting fresh air in, and wearing a face covering.
The Stamp Duty (SDLT) ‘holiday’ is currently set to end on 31 March 2020, resulting in a busy period of activity for house buyers and all those involved in the housing market.
In December, Nationwide reported that UK house prices had risen by 6.5% year on year, with the average property valued at £229,721.
Our leading Residential Property team continues to work and advise new and existing clients remotely. We can provide an estimate if you are considering buying or selling property in 2021.
For further information or legal advice, please contact firstname.lastname@example.org or call 0118 951 6800.
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.