Sta­bil­ity hope if re­ces­sion avoided

Yorkshire Post - Property - - PROPERTY -

AV­ER­AGE house prices fell by 1.3 per cent last year, ac­cord­ing to the lat­est monthly sur­vey from the Halifax.

It said that in 2011, on a monthly ba­sis, house prices fell six times, rose five times and stayed un­changed once. How­ever, they ended with a fall of 0.9 per cent in De­cem­ber com­pared with Novem­ber, and by 1.3 per cent in the fi­nal three months of the year.

Martin El­lis, the Halifax hous­ing econ­o­mist, said: “Whilst there was a modest fall over­all in prices dur­ing 2011, house prices held up well last year in the face of the dif­fi­cult and de­te­ri­o­rat­ing eco­nomic cli­mate and sub­stan­tial pres­sure on house­hold fi­nances.

“If the UK can avoid re­ces­sion, we ex­pect broad sta­bil­ity in house prices in 2012.”

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