UK property market could fall 13%, housing experts predict

Wide range of forecasts as market cautiously reopens after coronavirus shutdown

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Economists and housing experts are forecasting UK-wide price falls of up to 13%, with “brutal” declines in some areas, as the property market struggles to rebuild during the coronavirus crisis.

The range of forecasts from the major researchers is markedly wider than usual. At one end is the Centre for Economics and Business Research, which predicts that 2020 prices will be down by 13% “as a lack of transactions, high uncertainty and falling incomes take their toll”. But the estate agent Savills said the hit to the market could be more like 5%, and a third of valuation surveyors are predicting that price falls may be limited to 4% or less.

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Can I still buy my first property? | Sign up for our live Q&A

The fifth in our series of live Q&A webinars to help you succeed in lockdown, we'll be covering a range of topics affecting first-time buyers.

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Opening of English housing market catches estate agents on the hop

Agencies scramble to work out how to do viewings after industry exempted from coronavirus lockdown

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The news that the housing market in England could restart came as a surprise to estate agents. “We thought we’d be included with other retail and it would be 1 June before we could reopen,” says Alasdair Dunne, head of residential at Fisher German. “Then all of a sudden it’s full speed ahead.”

The agency, which has 13 offices covering England and Wales, received the government guidance on how to carry out viewings at 9.30am, but had already heard from clients who had seen the news. “Some of them are really keen to get on and do things, but some are actually quite nervous,” he says. “We are seeing if sellers are happy for viewings to take place. If it doesn’t look feasible to do it safely, we’re not doing it.”

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Has anyone ever seen a squirrel fall out of a tree?

The long-running series in which readers answer other readers’ questions on subjects ranging from trivial flights of fancy to profound scientific and philosophical concepts

Has anyone ever seen a squirrel fall out of a tree?
Sarah Chambers, Leeds

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Has anyone ever seen a squirrel fall out of a tree?

The long-running series in which readers answer other readers’ questions on subjects ranging from trivial flights of fancy to profound scientific and philosophical concepts

Has anyone ever seen a squirrel fall out of a tree?
Sarah Chambers, Leeds

Post your answers – and new questions – below or email them to nq@theguardian.com

Continue reading...

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The housing market is open: Everything you need to know

After weeks of discussion with other industry leaders and government, we’re thrilled to share the good news that lockdown measures have now been officially relaxed, for those wishing, or needing, to move in England. For the thousands of home-movers stuck in limbo, unable to complete on their pre-lockdown purchases and sales, your moves will now […]

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How to view property safely

Property viewings, in England, can now resume bringing relief to home-movers around the country. However, your health and safety remains our top concern at this time which is why we’ve created a set of simple guidelines, based on the new government guidance, to give you reassurance when going on property viewings or allowing others into […]

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