Major bank expects UK house prices to fall 10% this year

House prices are likely to bottom out at the end of 2024, before "recovering slowly" to reach their late-2022 peak level in the second half of 2027.

'The risk of a major collapse in house prices is becoming less of a concern,' says Zoopla, although some areas could see a 5% decline next year.

Major mortgage lender Lloyds and top-end buying agency Black Brick are both predicting a fall for property values as a result of the Coronavirus pandemic.