‘After defying gravity for much of the pandemic, house prices appear to be finally set for their return to earth’ – Knight Frank

Over half-a-million property sales will be "lost" due to the Coronavirus lockdown, predicts Knight Frank, but prices are likely to "recover sharply" once restrictions are lifted.

House price inflation is likely to "unwind" back to single figures across the UK, predicts Knight Frank, although Prime Central London is set for higher price growth as global travel resumes.

Property prices may prove "resilient" in the face of rising interest rates and costs of living, but transaction numbers are "likely to slow as the year wears on," warn surveyors.