I think it's a general rule of thumb that when prices are how, interest rates are low & vice versa. Given that "they" suspect interest rates will rise, this suggests that house prices will fall so as to keep things on an even keel & in balance.
So in answer to your question, personally I think it depends on what the B of E do.
With the euro zone falling apart, and defaulting on debt rife even potentially in the USA I would say that there is only one way for house prices to go. This will be particularly bad in the areas worst hit by unemployment and in areas with relatively high percentages of public service employees.