House prices will fall this year as Brexit uncertainty freezes market, Budget watchdog predicts

House prices across the UK are expected to drop by the end of the year for the first time since 2012, according to an official Government watchdog. The Office for Budget Responsibility (OBR), which analyses the Government's finances, predict that house prices will fall by 0.3 per cent in 2019. It's a sharp contrast to its five-year forecast made in October 2018, which saw house prices rise by more than three per cent in the last three months of the year. Experts have blamed the lagging property market on a dragged out Brexit and lack of affordability.