Property in lockdown: How people find new ways to move

With many areas of the economy grinding to a halt during the lockdown, it would seem like it might take quite a bit of time and effort to get things up and running again.
The property market has gone through some changes in lockdown.The property market has gone through some changes in lockdown.
The property market has gone through some changes in lockdown.

However, one sector where there is a great deal of optimism is property.

Estate agents in the Kirkcaldy area say that despite the heavy restrictions placed upon people, many still want to move.

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In fact, they say some people are even buying properties despite the fact that they haven’t even set foot inside it yet.

While things are obviously moving slower right now, the feeling among estate agents is that the market could well pick up right where it left off.

Andrew Watt at Delmor estate agents, says that before the pandemic, things were going well.

He said: “Prior to lockdown, there was huge demand for all houses.

“Supply was not meeting the demand in the Kirkcaldy area.

“Lockdown came along and we had to shut down.”

Nigel Ford, of Fords Daly Legal, agrees.

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He said: “When the whole lockdown happened, we were busy right through March, and had a whole load of transactions that were due to settle the last week of March.

“Most people understood that if it had to be delayed, then it had to be.

“The Land Registry have worked really hard, and managed to get procedures put in place very quickly to allow transactions to go ahead if people had to move.

“We have clients who had to be out of a rented property.

“We discussed things with a lot of other solicitors in the town and the majority agreed that we’d all co-operate to make sure clients weren’t affected.”

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But while many estate agents have had to close their doors, the rentals department has a responsibility to continue the management duties.

“It’s all going on where possible,” said Andrew.

“You can’t get major repairs done, but we can get urgent minor repairs done.

“We’ve had some social commentators saying that people shouldn’t pay their rent. That’s irresponsible.

“If you’re not paying your rent, all you are doing is building up arrears for another time that needs to be paid.

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“Where it’s physically possible to pay the rent, you should.

“You could be affecting the relationship with your landlord.

“The lettings side of the business can tick over until we open back up and we’ll be fine.

“We’re still getting email enquiries from people who want to rent. The interest has remained buoyant.”

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But there were those who may have had to abandon plans to move in light of the lockdown.

Andrew adds: “With new properties coming on market, we’re having to put these on hold right now.

“We had 55 properties in our pipeline when we shut down on March 24,

“Thirteen have had missives concluded. Eight have gone through and the people have moved into those houses. Another three – the buyers and sellers agreed to put the dates of entry back a month.

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“That then left us with 42 properties. We had four completely back out and say they’re not going ahead. Others have negotiated that the dates of entry are getting reviewed on a month by month basis.

“It’s a frustrating position for people to be in, but of that group, over 90 per cent of them want the deal to go ahead.”

Nigel added: “I’ve got one client who is buying a house.

“The people they’re buying from are desperate to get moved, as they need the space, but the people they’re buying from are saying they won’t move during the lockdown.

“All it needs is one person within a chain to say they won’t move and the whole thing just shudders to a halt.

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“We still get enquiries through Facebook from people about properties on the market, but we’re having to say to them that they can’t physically view it because it’s not possible right now.

“ We’ve had clients who have been willing to do videos of their own houses and we can stick it online, so people are adapting.”

Andrew agrees a greater emphasis has had to be put on digital innovations.

“You can do video tours and look online, but the vast majority of people are not going to buy a property unless they’ve physically been inside it and seen it for themselves.”

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But it would seem that doesn’t apply to all would-be buyers.

Nigel said there is still activity in the market.

He said: “People are looking at houses even just with online video tours.

“I still have clients phoning up wanting to put an offer in for a property.

“One was a clientwho saw the property online and has driven past it.

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“I’ve had some clients who have said they’d rather not move just now, or others who can’t get a removal firm because the British Association of Removers were telling their members not to work during the lockdown for safety reasons.

“But there’s been a lot of effort to keep things ticking along.

“Yes, it’s not as busy as it would have been, but I think there’s an awful lot of business in the property market that is just bubbling under and once the lockdown is finished I think it’ll take off.

Andrew also sees things positively, though he predicts a few changes.

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“When lockdown ends, we’ll start showing properties again with responsible social distancing, with masks, gloves, and sanitiser.

“I’m expecting the market to still be buoyant because there are fewer properties coming to market than there are people looking prior to lockdown, so we’re just going to have to test the market at the price we were achieving before lockdown.

“We’re going to know very quickly whether the market slows down, remains the same, or increases. 

“I think the demand was there before, and as long as there isn’t high unemployment and lenders continue to provide mortgage funds, the demand will remain, so I’m very positive about what will happen.”

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Nigel adds: “We’re getting sounds from one or two builders that they’re talking about getting one or two guys back on site in the next two-to-three weeks with proper safety in place.

“Builders seem to be taking the view that there’s going to be an announcement in the next couple of weeks, and construction’s where it all starts.”

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