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Ban on viewings and valuations closes down the housing market

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PA

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The Government lockdown means the housing market is effectively shutting down for buyers and sellers.

Physical house viewings are no longer permitted under the current guidelines and even where a sale is agreed the valuations banks require before releasing mortgage funds can no longer take place.

Bank of Ireland's head of retail banking Gavin Kelly said customers had been drawing down mortgages up to last week but said he now expects that to slow as the mechanics of the market make completing a sale harder as long as Covid-19 restrictions remain in place.