UK officially went into a recession as the coronavirus crisis has impacted the economy. According to the Office for National Statistics, the economy shrank by 20.4% between April and June.And with the economic crisis, It is likely homeowners are less likely going to buy a property, says one expert.
Ross Counsell, chartered surveyor and director at Good Move, claims the news will impact those looking to buy a property. He said: "The UK property market has been one of the most exposed industries to the government's restrictions with estate agents having to close their doors and buyers/sellers pausing activity throughout lockdown."Ross continued: "The news of the recession is undoubtably going to worry those looking to buy a property as.
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