House prices dip in December
House prices fell 0.2 per cent from November on a seasonally adjusted basis, although they rose 1.0 per cent from the same month last year. Analysts had forecast a monthly increase of 0.1 per cent and a 1.5 per cent annual rise.
“With the UK economy struggling to gain momentum, labour market conditions are likely to remain challenging in 2012, deterring buyers from entering the housing market,” said Nationwide chief economist Robert Gardner.
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Hide Ad“The housing market in 2012 looks likely to be characterised by low levels of activity once again, with prices moving sideways or modestly lower over the course of the year.”