Lloyds expects house prices to fall this year

A recent survey has also found that British buyers are more likely to put forward a lower offer than asking price compared to their European counterparts.

Economists warn of a "significant fall" for house prices as wider economic turmoil catches up with the property market.

"The fact that house prices have been rising quickly over the last year makes the market more vulnerable to external shocks to the economy," says Professor Geoff Meen, as he warns "there are numerous…