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Buyers and Sellers Largely Undeterred by Lockdown

27.01.21

A third national lockdown has deterred just 14% of buyers and sellers from a purchase or sale in 2021, according to a survey of over 10,000 people, with 81% planning to carry on as they planned.

The majority (81%) of home-buyers and sellers are “undeterred by lockdown 3.0”, declares estate agency Benham & Reeves after surveying over 10,000 people around the UK.

There is, however, a healthy degree of caution around physical property viewings. Half of respondents to B&R’s survey (conducted by market research platform Find Out How) said that they “didn’t feel safe” attending or hosting a physical property viewing.

The housing market is currently allowed to operate despite lockdown restrictions and a stay-at-home order, but there is growing pressure for a temporary shutdown to quell the spread of Covid-19. Estate agents are, generally speaking, doing a good job of adhering to hygiene and social distancing protocols, with many going above-and-beyond official guidelines.

A third national lockdown has deterred just 14% of buyers and sellers from a purchase or sale in 2021, with 81% planning to carry on as they planned.

In London, 18% stated they would now put their plans on hold, the highest of any region, while buyers and sellers in the North East were the least deterred with just 11% choosing not to transact this year.

Just 4% of those already in the process of selling or buying are putting their transaction on ice until the current lockdown has ended, while 91% of those will carry on no doubt spurred by the current stamp duty holiday.

Again, London is home to the highest percentage of those deciding to pull out or delay a sale or purchase (6%), while 96% of buyers and sellers in the North East are undeterred.

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