by Isabelle Fraser, Tim Wallace, and Rhiannon Bury
House prices will fall next year as the uncertainty surrounding Brexit takes hold, but far less than the Treasury’s gloomy warning before the EU referendum.
In its first post-Brexit forecast, estate agency Countrywide said that house prices will fall 1pc across the country in 2017, before rising by 2pc in 2018. It added that house prices would rise by just 2.5pc this year as the market cools in the second half of 2016.
In December 2015, with a Leave vote far from certain, Countrywide forecast that house prices would rise by 4.5pc in England and Wales during 2016 and 2017.