Lloyds ups house price forecasts

'We expect house prices to fall between 2% and 4% this year,' says Britain’s biggest mortgage lender.

The outlook is not rosy for either prime or mainstream markets this year, but the property consultancy senses a 'change in political direction' before 2030.

Average property values likely to increase by 22.2% over the next five years, say analysts, as regional price divides narrow.