Homeowners will lose an average of £10,000 over the next three years as the Iran war pushes down house prices.

House price growth is expected to slow as households face higher mortgage and energy costs due to the impact of the conflict, economists have warned.

Experts said it is “not an easy market” for sellers, who are discounting their properties as demand drops.

Shorts

One seller told The i Paper she has dropped her asking price by £25,000 but is still struggling to find a buyer.