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Will the Pension Reforms affect the Property Market?

Many of you will have heard about the 2014 Budget in which the Chancellor announced that Britain’s over 55s will no longer have to purchase an annuity with their pension pots.  Suggestions are being made that this may result in an influx of significant sums of money into the property market.  Many people may consider buying agricultural, residential and commercial property to be a better home for their hard earned savings than buying into equities, bonds or other forms of managed investments.  If that is so, it is likely that this will have an effect on property values on what is already, in some quarters, an overheated property market.