| House prices fell 2.7% in December but are up 1.5% on last year, according to Rightmove. This is surprising given the challenging market, according to the property website. However, with retail price index (RPI) inflation hitiing 5.2%, in real terms house prices fell nearly 4%.
Forecasting a 'fragmented and uncertain' 2012 housing market, Rightmove said conditions will be just as challenging as they've been this year, with asking prices expected to rise by a mere 2%. Inflation-adjusted house prices will continue to fall in 2012, or at best stand still...............................................Full Article: Source
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