Total value of UK housing stock falls for the first time since 2012

Significant house prices gains over the last few years have favoured more owner-occupiers than landlords, suggests Savills.

'The likelihood of an incoming Labour government no longer feels like a massive threat to prime property markets in London and the country,' says Middleton Advisors.

Capital Economics expects house prices to fall by 10-15% - but the impact on the wider economy may not be as severe as in previous property market downturns...