Estate agents were forced to close after lockdown was imposed, which meant those looking for a house for sale in Retford were unable to go for viewings and sellers hold off putting their house on the market.
However, as part of easing lockdown restrictions, the government allowed house moves and viewings to recommence from mid-May, after which the property market resumed normal activity, albeit with social distancing rules in place.
According to the latest figures from HMRC, there were as many as 48,450 property transactions in May, which represents a 16 per cent increase from April 2020.
While this is a decline of 49.6 per cent on May 2019’s figures, it is still a good sign for the housing market, as it demonstrates momentum is continuing to grow for the sector.
Anna Clare Harper, author of Strategic Property Investing, told Mortgage Finance Gazette said it was “hardly a surprise” transactions have fallen over the 12 months, as a result of the restrictions on valuations, obtaining finance and viewing properties.
However, she noted: “What we can see from the HMRC data and from what we are hearing from investors, appetite is responding quickly.”
Despite the enthusiasm for purchasing a property in the current climate, there are still several restrictions for homebuyers and homeowners. These include encouraging virtual viewings to avoid entering other people’s houses or adhering to social distancing guidelines if physically viewing a home. In this case, doors and windows have to remain open and hands should be regularly washed for 20 seconds. Keys should also be cleaned between viewings.