| Property prices are resilient and mortgage credit is on the up – but there are reasons to be cautious. All things considered, house prices proved remarkably resilient during 2012. The Nationwide building society has reported that prices fell by 1% during the year, but given that the UK suffered its first double-dip recession since the 1970s, the fall could have been a lot bigger.
A number of factors explain why the cost of property stagnated. Rising employment, low mortgage rates and the leniency of lenders towards those in arrears meant there were few forced sellers...............................................Full Article: Source
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