Housing Market Remains Buoyant

 Confidence and resilience in the housing market are expected to remain high beyond the end of government support, as falling numbers of prospective homeowners cite the risk of job losses as a barrier to purchase a property. Although furlough will close at the end of the month just over a third of people cite a risk of job loss as a barrier to homeownership (34%), compared to 68% in September 2020 and 45% just three months ago. The end of the stamp duty holiday also appears not to be denting confidence, with just over one in four people (26%) thinking now is a good time to buy a new home, with a similar number (25%) disagreeing. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/housing-market-remains-buoyant-despite-looming-ending-of-government-support.html

£4.6bn Paid Out To Support Wages Across Construction

The Government has paid out £4.6bn since March to support the wages of construction staff on furlough and self-employed workers laid off in the lockdown. Up to 1.48m construction staff and self-employed workers have received some kind of wages support during the coronavirus outbreak.

According to latest Government figures, so far 801,000 self-employed construction workers have received pay-outs from the Self-Employment Income Support Scheme, totalling over £2.8bn. Over the same period, more than 150,000 construction firms submitted claims for Government support for 680,000 furloughed staff. Read more on the Construction Enquirer website.

https://www.constructionenquirer.com/2020/06/11/furlough-claims-for-construction-staff-reach-1-8bn/

Developer Wants Office Staff To Return Despite Government Guidance

A property development company behind some of London’s most prestigious developments has told staff they could be asked to return to the office, even if they can do their job from home. Galliard Homes sent a memo to staff outlining the conditions under which it intends to resume operations as lockdown restrictions begin to ease. The Frequently Asked Questions (FAQ) document also includes a section under the heading: “Why am I being told to return to the office when the guidance is still clearly if you can work from home, do so?” The response is that government guidance “specifically references easing the burden on public transport”. Read more on the Guardian website.

https://www.theguardian.com/world/2020/may/27/property-company-wants-office-staff-return-lockdown

Property Firms Seek Flexibility In Furlough Scheme

The Home Buying and Selling Group has written an open letter to the chancellor calling for greater flexibility to move staff into and out of the furlough scheme in order to manage peaks and troughs in market activity. The group, made up of estate agents, conveyancers, valuers, surveyors, energy assessors, search companies and removers, says there are likely to be spikes in activity as the pent-up demand from those who have put off completing on sales and moving home work through the system. Read more on the Mortgage Strategy website.

https://www.mortgagestrategy.co.uk/news/property-firms-seek-flexibility-in-furlough-scheme/