UK
Ireland
Scotland
London
House Prices fell by 0.1% in the final quarter of this year according to Halifax.
On a monthly basis house prices declined by 0.9% in December. This took the average house price down to £160,063.
Commenting, Martin Ellis, housing economist, said: "Whilst there was a modest fall overall in prices during 2011 with an annual decline of 1.3% in
December, house prices held up well last year in the face of the difficult and deteriorating economic climate and substantial pressure on households' finances.
"If the UK can avoid recession, we expect broad stability in house prices in 2012. There is, however, considerable uncertainty regarding the prospects for the UK economy which will, to a large extent, depend on how events in the Eurozone unfold. In addition, the extent to which households choose to reduce their debts will also affect growth. As a result, the outlook for house prices is also uncertain."
(CD/GK)
