U.K. House Prices Fall as Hometrack Sees Further Decline in 2013

U.K. House Prices Fall as Hometrack Sees Further Decline in 2013

Jim Dyson/Getty Images

Britain’s economic recovery has yet to gain traction amid a squeeze in credit markets, keeping consumers under pressure while inflation outpaces wage growth. Data last week showed the economy’s rebound in the third quarter was weaker than initially estimated, and Governor Mervyn King has forecast a “zig-zag” pattern of growth.