Will property crash in 2021?

Travellers arriving in England forced to stay in hotels will be charged £1,750 for ten days of quarantine, the UK Health Secretary Matt Hancock has announced.

The border control measures will come into force on Monday and apply to UK and Irish residents returning from countries on the high-risk so-called ‘red list. 

Opposition parties have called for stronger border controls, as travellers from the 33 red list countries, which include South Africa, Panama and the UAE, do not make up the majority of the 20,000 plus people arriving in London from around the world every day.

Anyone breaking the rules and failing to quarantine in a government-sanctioned hotel for 10 days will be fined up to £10,000.

However, all overseas travellers flying into Scotland will have to go into quarantine hotels.

To add to the confusion, people travelling from red list countries to Wales and Northern Ireland will be required to book and pay for quarantine in England, because the two countries do not currently have any direct international flights.

People who lie on their passenger locator forms about visiting a red list country will be subject to a fine of £10,000 or up to 10 years in prison.

The UK has suffered over 113,000 coronavirus deaths since the start of the pandemic. Over 12.6 million people have received a first dose of the vaccine.

Mr Hancock told the Commons that 16 hotels have been contracted for the programme, with 4,600 rooms secured.

The government will also enforce a tougher new "enhanced testing" regime for all travellers arriving into the UK starting on Monday, with two tests required during the quarantine process.

Arriving passengers must to get a test on days two and eight of their 10-day quarantine period, whether they are isolating at home or in a hotel.

The previous scheme was widely criticised for being too lax and open to abuse by overseas passengers arriving at London’s airports with no test and getting straight onto crowded underground public transport.

Under new rules, airlines and travel companies will be legally required to ensure travellers have signed up for the new measures before they depart, with fines for companies and passengers if they fail to comply, Mr Hancock confirmed.

New penalties include a £1,000 fine for travellers who fail to take mandatory tests and a £2,000 fine for failing to take the second mandatory test - along with a 14-day extension to quarantine.

Failing to quarantine in a designated hotel carries fine of between £5,000 and £10,000.

Passengers required to stay in a quarantine hotel must reserve a room online in advance via a booking system opening on Thursday.

The £1,750 fee for an individual includes the hotel, transfer to it and testing.

Similar measures have been in place in a number of Asian countries, including The Philippines, since the middle of 2020.

Will property crash in 2021?

The simple answer to the question everybody is asking is nobody really knows. Despite the worst recession in 300 years, average UK property prices jumped by almost 7% last year, and the market is still buoyant. Online auctioneer Savills have sold over £100 million worth of property from its last three auctions. 

I attended Tuesday’s online only auction, and witnessed over £37 million worth and more than 100 properties across the UK go under the hammer. Properties, from a few thousand to millions of pounds, were selling fast at way over the guide prices – one sold for £200,000 over guide.

Remember that auctions are for experienced investors and you should take advantage of the many free webinars available for anyone who wants to invest in UK property.

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