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Necessity is the mother of invention for property lawyers during lockdown & beyond, says Veronica Cowan
As the stay-at-home measures begin to lift in England and the government takes steps to encourage the re-opening of the home moving market, a plethora of transaction-driven businesses, like conveyancers, estate agents, valuers and removals companies, will continue to suffer the financial pain caused by the COVID-19 outbreak.
Although the coronavirus pandemic froze the property market, words of hope recently came from global consultancy Knight Frank in a prediction that prices will fall by only 3% and rebound next year. In the South of England, some property sales have been going ahead, although Ministry of Housing, Communities and Local Government guidance stated that home moves into occupied properties should only occur where contracts have been exchanged and it has proven impossible to agree a deferral. Simon Davis, Law Society president, noted that this reflects the difficulties created by the restricted movement requirements, and that the position is fluid and changing, but would be kept under review.
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