Sunderland estate agent's advice on navigating the housing market during the coronavirus crisis

Like so many aspects of everyday life, the property industry has been thrown into an uncertain chapter by the global pandemic.

Working from home, Chris Kelly, of Hunters estate agent in Sea Road, Fulwell, has been running regular advice videos for people who are worried about whether their planned house moves will go ahead.

“There is an awful lot of uncertainty and a lot of it comes down to solicitors not being very accessible as they’re working from home. So a lot of people are coming through their estate agents,” he explained.

“It couldn’t be a worse time for buying or selling a house at the minute. The property market has come to a complete pause and, in an ideal scenario, we’ll be able to pick up where we left off,” added Chris.

Hunters have around 50 sales ongoing at the minute, which they intend to move through.

However, the many consequences of the pandemic can disrupt the process.

“Problems arise in a chain,” said Chris. “If there’s 4/5 people in a chain it only takes one person to have uncertainty about their job and it affects the whole chain.”

For those not already down the line in the buying and selling process, Chris advises staying put.

He explained: “People are sat at home and looking at houses, but for people wanting to put their house on the market I’d advise them to hold off because you can’t do viewings, and you need plenty of interest to get the best price.

“Also, most mortgage lenders have withdrawn their product from the market. So unless you’ve got a 40% deposit at the minute you’re going to really struggle to get a mortgage.

After the uncertainty of Brexit and the General Election last year, the housing market had been looking healthier in January and February before the pandemic, but Chris says this difficult period won’t last.

He said: “For our clients I’ve told them to stay put and get in touch with me when the market picks up, because there will be a surge after this.”

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