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.

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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 moving home while emergency measures are in place to fight coronavirus.”

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