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Coronavirus: government suspends housing market

Posted On: 27 Mar 2020   |   Posted By: The Week

Coronavirus: government suspends housing market

Estate agents bracing themselves for crash as ministers ‘hit pause button'
One-Minute Read
The Week Staff
Friday, March 27, 2020 - 6:48am
The government has frozen the housing market until the coronavirus lockdown is over, telling people to delay their home moves and not to allow new viewings.
In new guidance, the government said it was urging buyers and sellers to “adapt and be flexible” by agreeing new moving dates.
See related
Coronavirus: which UK businesses will today close their doors? Will Rishi Sunak's £350bn coronavirus package rescue the economy? Four ways the coronavirus pandemic might unfold in 2020 and beyond Lenders said they would extend mortgage offers for up to three months - allowing purchasers to move in at a later date. But The Sun reports that estate agents are “already bracing themselves for a crash as people avoid going to open houses, while sellers are reluctant to put homes on the market”.
A government spokesperson said: “Home buyers and renters should, as far as possible, delay...

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