Economics
U.K. House Prices Seen Falling in 2012 on Unemployment: Economy
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U.K. house prices may decline in 2012 as economic turmoil emanating from the euro area’s sovereign debt crisis pushes up unemployment and undermines consumer confidence.
The average cost of a home fell 0.2 percent in December from November, the first monthly drop since August, and values may drop “modestly” next year, Swindon, England-based Nationwide Building Society said in an e-mailed report today.