Just as the UK housing market was starting to look up, along came the global pandemic Coronavirus that we all know too well.
It is actually one of the most commonly searched questions concerning coronavirus outside of general facts and info about the virus.
People all over the UK want to know how the Coronavirus will affect house prices.
The general outline is that it will have a negative effect, and prices will almost certainly go down.
This is a real shame as the trends of the UK property market have been showing promising growth over the past 5 years or so since the last economic recession.
We cannot get away from the fact the coronavirus is having a huge negative impact on the economy as a whole.
Governments all over the world are doing all the can the bolter the losses, and are releasing stimulus packages and temporary measures to make sure that it does not take too large a hit.
Financial experts are predicting a short, shart shock to the economy that will hopefully not be too prolonged.
There are others that are of the opinion that sustained economic damage will more than likely happen, leading to losses that can be felt for more than a few years.
The optimists are expecting a strong rebound by 2021, even if the short term looks poor and uncertain.
The most important thing for the housing market will be the pull back from buyers across the board, which will slow the market down and take the momentum out of it.
This will see selling prices fall and generally sluggishness felt in the market.
The other major factor is the fact that people with wealth tied up in the share market will see their wealth diminished, so their capacity to spend this money on things like housing will be greatly reduced.