House prices will slump this year economists warn, as the market suffers a major correction.
The housing market will see its biggest decline since the financial crash in 2009, according to economic experts surveyed by The Times.
Rising mortgage costs and a likely recession are being blamed as the two main reasons for the looming situation.
Two thirds of the economists surveyed predicted prices will fall by more than 4 per cent, with most warning of near-double-digit drops.