“There are decades where nothing happens and there are weeks where decades happen’ – a quote from Vladimir Lenin which many of us might relate to given our collective experiences with the impact of Coronavirus since March this year.
As daily life in the UK is gradually returning to what many would see as a version of ‘normal’, the government’s other main priority ahead now, apart from public health, is to protect livelihoods for the longer term and to ensure that we can return to a relative state of ‘business as usual’.
The property and construction sector has sprung back to life quickly and in some regions we are seeing a very buoyant residential property sales market. For many investors, who were told by some ‘experts’ to expect a plethora of bargain buys being available in early summer, this could be quite a shock.
The big question of course is whether this post-lockdown ‘buyer euphoria’ has any solid foundations and will it continue into the autumn. The announcement by the Chancellor Rishi Sunak of a SDLT ‘holiday’ on transactions up to £500,000 until 31st March 2021 will encourage those who feel more secure financially with their employment to buy or move home.