Coronavirus: UK house prices could take a year to recover despite market reopening

Load Error A survey by the Royal Institute of Chartered Surveyors (RICS) showed 80% of its members had seen buyers and sellers pulling out of transactions over COVID-19 in April. Housing secretary Robert Jenrick said on Tuesday in-person viewings and completions could resume, estate agents and show homes could open their doors, and conveyancers and removal firms could return to work. House moves were previously banned unless “reasonably necessary.” Rubinsohn said any return to pre-crisis activity levels depended most on how the pandemic panned out, and its impact on the wider UK economy. The comments suggest policies announced so far, such as flexible building site working hours, deferred levies on small developers and looser planning rules, may not be enough. “That means staying at home, apart from essential purposes.” The UK government’s decision to encourage more property viewings and transactions was welcomed by estate agents and trade bodies for landlords and tenants.