Real Estate

What will the UK property market look like after lockdown?


The coronavirus lockdown has forced the UK housing market into a kind of suspended animation. Since March 27, when the government announced that property deals should be put off until after the crisis, many buyers and sellers have been left stranded.

Mortgage lenders have withdrawn products from the market and social-distancing measures have made the listing, valuing and viewing of non-vacant homes all but impossible.

Live Q&A

With the UK economy expected to endure its biggest slump in centuries, should buyers go ahead with sales, negotiate big discounts or walk away entirely? Buying agent Henry Pryor and FT property editor Nathan Brooker will be online on Friday May 8 at midday and 5pm UK time to answer your questions online. Head to the comments section at the bottom of this piece to read the discussion and get involved

In recent weeks, the FT has spoken to buyers and sellers who are in a state of limbo, unable to continue with their property purchase. According to the property portal Zoopla, there are some 373,000 transactions currently on hold in the UK, with a combined value of £82bn.

This is part of a daily series enabling you to interact with FT writers and editors on what to read, watch, eat and drink under lockdown

Now, as the government prepares to ease lockdown restrictions, the property market is expected to start functioning again — but what does that mean for buyers and sellers? With the UK economy expected to endure its biggest slump in centuries, according to the Bank of England Monetary Policy Report, should buyers be pressing ahead with sales, negotiating big discounts or walking away entirely?

Let us know what you think in the comments section below. Independent buying agent Henry Pryor will be on hand to answer readers’ questions at 12 midday and again at 5pm.



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.