The UK property market has taken a hit like never before. The Coronavirus pandemic which resulted in lockdowns and restrictions throughout the world, caused mayhem and lasting damage to business and industries across the globe. One industry hit particularly badly in the UK has been the property market, including rental, commercial and property sales, all of which were effectively put on pause and in some cases, stopped altogether.
Property investor Rex Ekaireb commented on the effects of the lockdown on the property industry saying: “Although most people accept the effects that this pandemic has had on the property market, few are able to consider things from the perspective of landlords, tenants, buyers, sellers and lease-holders…”
Rex Ekaireb continued commenting: “It is not simply the case that sellers have had to wait, with buyers having mortgages paused. Landlords have lost considerable income and tenants as a result, have lost out too, with less available to be spent on their properties.”