Revealed: Blueprint to revive house sales
Sellers must wait in gardens and clean before and after viewings in plan being drawn up for Ministers
A BLUEPRINT to revive house sales under strict social distancing rules is to be formulated by Ministers and property industry officials in talks this week, The Mail on Sunday can reveal.
Housing Minister Christopher Pincher will host a video conference call with the trade body for estate agents to discuss how people can safely begin buying, selling and moving home again.
Proposals under consideration include asking sellers to stay in their gardens during viewings and requiring potential buyers to wear masks and gloves. In addition, viewings of each property could be limited each day.
Government officials last week held a series of Zoom video conferencing calls with working groups comprising lawyers, conveyancers, estate agents and removal men to come up with a range of measures to reboot the housing market.
Hous e sales have ground to a halt during the Covid-19 pandemic after the Government ordered a temporary freeze in March.
An estimated 373,000 property purchases worth £82 billion are on hold until the lockdown ends.
Fears are mounting that house prices could fall heavily if sales resume at a time when the economy is heading into a deep recession.
Industry sources said the Government wanted to get the property market moving again as soon as possible.
The social distancing plans being discussed will be sent to Publ i c Healt h England for approval and are said to be expected to be finalised ‘within two weeks’.
The preliminary discussions held last week focused on a set of standards for ‘ socially distanced’ viewings and legal transactions. Sources said home sellers will be expected to open all t heir i nternal doors and turn on their lights so that potential buyers will not have to touch any surfaces.
Vendors will be asked to temporarily vacate their property duri ng each viewing – perhaps staying in their garden or going to the supermarket or for a walk – in order to avoid physical contact with visitors.
Property viewers look certain to be required to wear gloves and masks and will be expected to avoid touching anything within the property boundaries.
The number of viewers allowed at each visit is likely to be limited. There is also expected to be a ban on the booking of backto-back viewings.
Estate agents will have to check that no one at the property has Covid-19 symptoms.
If any occupant appears to be showing signs of infection all viewings will be called off.
Sellers will be expected to clean their homes before and after every viewing.
In addition, there is expected to have to be some disinfection work carried out within the communal entry areas in blocks of flats.
Lenders will calculate home valuations digitally using existing data on the local market and any in existence for the property being put up for sale – unless the buyer is seeking to borrow a large amount relative to the deposit they are putting down for the house. Any mortgage with a high loan- to- value ratio will require a physical visit from a valuer who will be expected to maintain strict social distancing at all times.
Meanwhile, lawyers are drawing up plans for electronically signing and witnessing mortgage documents.
The talks this week will also address who pays for the protective gear worn by agents and prospective buyers and for any cleaning work required.
Industry leaders are also busy determining how to reboot the hundreds of thousands of property transactions that have been put on hold during the lockdown. They fear a scramble to complete deals as soon as the lock down is lifted could trigger long delays.
Mark Hayward, chief executive of the National Association of Estate Agents, said: ‘There will be a spike in property completions coming out of lockdown. This will be a difficulty because the removal people have all put all of their staff on furlough – but everyone is going to want to move on the Friday after the end of lockdown.
‘ So all of that needs to be managed. It will need to be a staggered approach.’
Lawyers have started negotiating extensions to completions and lenders are being flexible over the length of mortgage agreements.
Hayward added: ‘The Government is keen to see the property market start up again, but we have to re-enter the marketplace in a safe manner.’
Charlie Bryant, chief executive of listings firm Zoopla, said: ‘The property market can operate in a world of ongoing social distancing. You can find ways around these problems.’