House prices are set to dip across the UK next year as the market pauses for breath following the sharp growth in values seen in 2014, according to new predictions by analysts.

The Centre for Economics and Business Research (Cebr) said that the UK property market has reached a turning point after its strong recent recovery.

This will be compounded by some prospective buyers being "startled" by the rise in interest rates which is widely expected by forecasters in 2015 as the Bank of England base rate moves off its historic 0.5% low, it predicts.

Cebr forecasts that prices will grow by around 7.8% across the whole of 2014, but next year, prices are likely to see a 0.8% year-on-year fall as the market adjusts itself, it predicts.