The proverbial handbrake has been applied to the UK housing market in a very sudden fashion. As market analysts, we're starting to wonder what the short, medium and long term effects will be. As a reminder, the average annual rate of growth in Pinner over the last 20 years has been 12.8%, but what happens next?

The first thing we want to emphasise is that there are a lot of very good reasons to think the market will bounce back quickly. When the market reopens for business, there will be a lot of positive sentiment, pent-up demand and buyers relishing the prospect of rock bottom interest rates. Another driver will be people wanting a new start, having had some thinking time.

But there are also potential clouds in the sky. In the short term, the market could be paralysed by buyers holding off from buying until they get some visibility on price movements. Longer term, it is possible that the period of economic inactivity were currently experiencing causes a global depression and the unemployment which comes with it.

On the whole we're positive about the outlook for the property market in the 12 months which follow the market reopening. We're less certain about what happens after that, and we are very much in uncharted territory. If you want to get a head start when the market comes back to life, don't hesitate to give us a call!.

Full report for Pinner can be found here