Pursuits
U.K. Home Prices to Fall Next Year, First Time Since 2008
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U.K. home values will fall 5 percent in 2012 as buyers are deterred by government job cuts, rising unemployment and low wage growth, real-estate broker Knight Frank LLP said today.
The drop will be the first since 2008 and growth won’t return until 2014, when prices will rise by 1 percent, the London-based broker said in a report. Declines will be sharpest in Scotland, Wales and northeast England.