If anyone was impacted by the pandemic in both negative and positive ways, then that would be the real estate agents. While commercial properties struggled throughout last year, residential real estate went through a price boom that is still not slowing down. That does not mean that there were no changes in the way the agents work, as local measures meant many cannot do in-person showing. At the beginning of 2021, we need to look at what is ahead for the market. For our national market, Brexit will have an impact, as well as slew of proposed new taxes.
- The stamp duty holiday deadline will likely help the first quarter of housing sales but we expect to see lower results afterwards.
- The job retention plan by the government will end on 30 April 2021 which may further worsen the housing market.
- While we can’t say for sure what will happen, we certainly want to adapt to create any kind of safety net possible.
“Now that the UK and the EU have signed a trade deal, some of the uncertainty surrounding Brexit has been quelled. However, many property experts are forecasting a less prosperous year than 2020, with house sales remaining flat and minimal (if any) house price growth.”