UK House Prices Will Fall 8 Percent Next Year: Lloyds Bank

Rows of terraced houses and residential properties are pictured in south London, backdropped by the skyline of the City of London, on July 6, 2020. Daniel Leal-Olivas/AFP via Getty Images

House prices in the UK will fall by nearly 8 percent next year, the Lloyds Banking Group has predicted.

According to the bank, house prices will fall by 7.9 percent over the next year, with its worst-case model assuming a crash of 17.9 percent.