Forecasts

UK house prices are "overvalued by a third and likely to fall", suggests Oxford Economics, while Capital Economics boss Roger Bootle thinks we could be looking at a 10-15% drop in property values - equivalent…

Agency now expects prices in the UK to fall by 5% next year and in 2024, wiping out the growth that took place during the second half of the pandemic.

Economists expect interest rates to spike and house sales to tumble - meaning the last year's worth of aggressive property price growth could be rolled back.

Dexters' boss Andy Shepherd is very bullish about the capital's property market prospects.

A house price correction of between 10% and 20% looks increasingly likely, writes Colin Jones, Professor of Real Estate at Heriot-Watt University.

Another influential team of analysts expects a sharp downturn for Britain's property market, with London house prices likely to fall 15%.

"Winds of change" are blowing through the housing market, says Hamptons, as the estate agency predicts 15

London estate agency Benham & Reeves expects house prices to rise by another 5% before the end of the year.

Prime Central London will “continue to outperform” the wider London and national UK property markets, says Capital Economics, as it issues another set of downbeat forecasts.

"The change in economic headwinds is starting to be reflected in seller confidence," says OnTheMarket.

Strutt & Parker now expects PCL property prices to end this year 2-5% higher than they started it, having predicted 5-10% growth through 2022 just a few months ago

"A lot has changed in global property markets since we issued our last global prime residential forecast in December 2021," says Knight Frank