The stark forecast comes after Nationwide, the second-biggest lender in the UK, reported a second consecutive monthly drop in the value of property for the first time since February 2009.
Experts have warned of a property prices slump, with some predicting values to plummet by at least 10% by the end of next year.
The stark forecast comes after Nationwide, the second-biggest lender in the UK, reported a second consecutive monthly drop in the value of property for the first time since February 2009.