U.K. House Prices Will Extend Declines in 2012, Hometrack Says
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U.K. house prices will extend declines in 2012 as rising unemployment and weak consumer confidence erode demand, Hometrack Ltd. said.
The average cost of a home will drop 3 percent by December 2012, after decreasing 2.1 percent this year and 1.6 percent in 2010, the London-based property researcher said in an e-mailed report today. Values fell 0.2 percent this month from November.