U.K. Home Prices Face Downward Pressure in 2012, Hometrack Says
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U.K. house prices were unchanged in January, according to property researcher Hometrack Ltd., which said “downward pressure” on prices will continue amid a squeeze on consumers.
From a year earlier, values fell 1.6 percent in January, the London-based firm said in an e-mailed report today. Gauges of new properties coming on the market and demand both declined and the underlying trend is one of “tightening supply and weakening demand,” it said.