Ask an expert: Peter Ambrose, The Partnership
Although the government remain coy on precisely when the UK economy will be relieved from lockdown measures, many cabinet insiders have intimated that estate agents and the property sector will be amongst the first to re-open their doors.
Therefore, for stakeholders in the property market who could lose up to 35 per cent of their business as transactions significantly reduce in 2020, preparing for the lifting of restrictions should be a key part of their business recovery.
The world will be born anew when the restrictions are lifted. We will not be allowed to operate in the same we did at the start of February. Office capacity will be noticeably emptier than in the past as social distancing measures continue, even after businesses are free to operate again. The way the sector views houses, communicates with clients and completes essential building and home improvement works will all need to find a ‘new normal’ to avoid a second wave of the virus.
Peter Ambrose, managing director of The Partnership, discusses the current resilience in the property market despite the governmental advised property freeze, the importance of office space planning, the emergence in popularity for ‘exchange ready packs’, the plight of smaller conveyancing firms in a contracting market and the future of panel management firms.