News
2021 is still uncertain, with the Covid-19 and the Brexit. The pandemic and Brexit will continue to impact the property market. The property sector has continued to show resilience amidst the period of uncertainty.
The Impact of Covid 19
The Covid-19 vaccines were already administered in the UK last December 2020, if it rolls out successfully these measures will give people more confidence that “normality” will return by the end of 2021. As more vaccine will be available to the community, this will bring wider confidence to the economy and the property market as well despite the disruptions of lockdowns.
Additionally, the likelihood of banks lending ability will boost when the normality returns. And this will help increase the mortgage products available which will be a piece of good news for homebuyers and investors who are seeking mortgages.
Housing Demand and changes in priority
Despite the lockdown, the property market is still open in England. This means, estate agents still conduct house viewing and buyers can still move home with the precautions imposed by the government.
After spending time more at home throughout the year 2020, buyers and tenants are looking for more space and a better internet connection. With the approaching end of the stamp duty holiday on 31st March 2021, this will likely fuel the demand at the beginning of 2021.
Despite the cloud of uncertainty in 2021, the UK property market will remain resilient throughout the year.
If you are buying a property or selling a property, feel free to contact Bluestone Properties. We are based in south west London. Call us 0208 355 3405 or email us at info@bluestoneproperties.co.uk
