Back-to-back house price falls will hit the UK before the end of 2024, due to a glut of unsold homes and continuing high mortgage rates.
Prices are 1.1% lower than they were at this time last year, according to Zoopla. But it expects the annual decline to reach 2%, the first time that prices have fallen in a calendar year since 2011, and then fall by a further 2% in 2024.
It would be the first back-to-back fall in house prices since the global financial crisis.
Both Zoopla and Lloyds believe that prices will begin to rise again in 2025.
