Falkirk district housing market feeling the effects of coronavirus lockdown

They say moving house is one of the most stressful things in life, but what impact is Covid-19 having on those buying or selling their home?

As with the majority of businesses, estate agents across Falkirk district were forced to close their doors in March as the government imposed its restrictions on people’s everyday lives.

Viewings stopped and the government advised those planning on moving should try to arrange alternative dates for a time when the country is no longer in lockdown.

Local estate agents are continuing to work hard during this challenging situation to do all they can to help their clients.

Alyson Lowe, managing director of Alexander Taylor in Falkirk’s Newmarket Street, explained: “When lockdown started we had transactions going through the system which all of a sudden had to be closed down.

“Solicitors were closing and there was a lot of dubiety about what we were and were not allowed to do.

“It’s been really difficult trying to keep clients informed with what’s happening, while they are sitting in houses which are no doubt packed up ready to go, but they can’t actually move.

“We have got transactions in the pipeline but they are just sitting there as other factors are having an impact on what can be done right now.

“Initially the Land Registry were not allowing transactions to go through, but now they have opened a new portal to allow them to process and register the new owners of properties. This will let the process move on a bit, but then clients are facing difficulties in actually moving.

“Some clients are stuck as they want to move but they can’t get the companies to help them move.

“Others were due to move out of their property and move in with their parents for a period, but that can’t happen now either.

“We’ve had people struggling to source boxes for packing and those who are packing up are unable to dispose of rubbish as the tips are closed.”

However, Clark Gillespie, director of Clyde Properties, said there is still some work going on behind the scenes.

He said: “The week of March 23 when lockdown was announced we expected maybe a dozen or 15 settlements that Friday but only one went ahead.

“The Registrars of Scotland had closed, but since it reopened some transactions have been able to be completed by following the social distancing guidelines. There are certain things that can be done and others that can’t.

“As far as normal agency process is concerned we’ve no viewings, no valuations and we are not actively marketing properties.

“However in the last few weeks we’re still seeing a number of enquiries and taking calls about properties without people having seen them, and there’s been a couple of sales made without them being seen.”

It’s not just those already involved in the moving process that are affected. Those looking to put their property on the market are also encountering hurdles with surveyors closed and home reports not being produced.

Alyson said Alexander Taylor have introduced a social distancing valuation format online — with sellers taking photos or videos and sending it to the estate agent — in a bid to adapt to the situation.

Once we’re through the lockdown period, how do the estate agents see things in the Falkirk property market?

Alyson said: “I think initially, unfortunately, there’s going to be a demand for people that have decided they are splitting up for whatever reason, just through the pressure of being at home for such a long period of time.

“Also we have already seen a couple of issues where valuations have gone down.

“The valuation in a home report is only valid for three months, so we’re going to see a huge influx of re-valuations getting done. What we’ve seen twice in this space of time is the surveyors are down valuing that.

“It’s inevitable there’s going to be a down valuation on properties, but a positive we can give people is that this is going to be straight across the board.

“So the value of the property you’re selling may drop, but at the same time, the value of the new property you’re buying will also drop.”

However Clark disagrees and thinks it’s harder to predict what may or may not happen.

“It’s hard to know what the future impact is going to be as the reality is nothing has really traded and it will take some weeks or months before we definitely can say what’s happened to the market,” he said.

“One thing we can say though is there will always be the need for people to move to larger or smaller homes, relocate for work, executries or separations. That will never change, and there will be a need for someone to help these people to do so.”