On the 2nd of December 2020, UK regulations were the first in the world to approve the use of the much anticipated Coronavirus vaccination by Pfizer/BioNTech. 

Since then, two more vaccines (Moderna and the University of Oxford's AstraZeneca vaccine) have also been approved for distribution in the UK and the vaccine roll out has began. A study by London School of Hygiene and Tropical Medicine has estimated that 2 million people will need to be vaccinated each week in order to prevent a third wave of the virus. 

Despite the mammoth task ahead, the vaccine has provided a glimmer of hope worldwide as there now seems to be a viable end to the pandemic that has dominated our lives for the last year. 

There is no doubt that as the economy begins to recover from the effects of the pandemic, confidence in the housing market will increase. The vaccine provides an opportunity for a bounce in the market, as does the post Brexit landscape. People who previously put off  moving due to the uncertainty over Brexit followed by Coronavirus can finally take the plunge against a less tumultuous political backdrop. 

The Spring vaccine roll out does coincide with the end of the Stamp Duty Land Tax Holiday on the 31st of March. While there has been somewhat of a rush to complete purchases by the deadline, we believe that the positive impact of the vaccine will balance out the possible drop in demand when the holiday ends. 

Above all, the UK's vaccination plans provide hope for the future and will lift the nation's mood. We hope that as life returns to normal, the property market will strengthen. As more and more of the population are vaccinated, life will hopefully return to normal and this will have a positive impact on the property market.