Economics
U.K. Home Sellers Cut Asking Prices in December, Rightmove Says
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U.K. home sellers cut asking prices in December, according to Rightmove Plc, which said the property market will remain “challenging” next year.
Average asking prices in England and Wales fell 2.7 percent from November to 225,766 pounds ($350,400), the operator of Britain’s biggest property website said in a report in London today. On the year, prices rose 1.5 percent, and Rightmove said values may rise 2 percent in 2012, supported by a shortage of property for sale.