U.K. House Prices Fall on Economic Outlook, Inflation
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U.K. house prices fell in January as accelerating inflation squeezed consumers and uncertainty about the economic recovery curbed property demand, Nationwide Building Society said.
The average cost of a home slipped 0.1 percent from December to 161,602 pounds ($259,144), Britain’s biggest customer-owned lender said in an e-mailed report today. Economists had predicted a drop of 0.4 percent, according to the median estimate of 18 forecasts in a Bloomberg News survey. On the year, prices fell 1.1 percent.