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U.K. house prices little changed, may fall over next year

Posted on 30 November 2012

U.K. house prices were little changed this month and values may decline “modestly” over the next year because of subdued wage growth, Nationwide Building Society said.The average cost of a home was 163,853 pounds ($262,300) in November, the Swindon, England-based customer-owned lender said in an e-mailed statement today. From a year earlier, prices declined 1.2 percent.
“The predominant theme remains one of stability,” Robert Gardner, chief economist at Nationwide, said in the statement. However, “house prices are likely to remain broadly flat or decline modestly over the next 12 months.”……………………………………….Full Article: Source


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