On Thursday, the UK house prices were a bit changed in December, further the trend evident throughout 2012, according to the Nationwide.
The price of typical home dropp by 0.1 per cent in December. Overall in 2012 the price of typical home was down by 1 per cent, reversing the 1per cent rise posted in 2011. The typical UK home is worth £162,262.
A ccommenting on the figures, Robert Gardner, the Nationwide's Chief Economist, said: “The Average UK house prices climbed by 0.5 per cent in the final quarter of 2012, after allowing for the seasonal effects. The price declined 1.1 per cent over the year as a whole. The England further to outperform the other home nations, with prices decline 0.4 per cent in the annual terms.”
“A Wales was second, with prices decline 2.7 per cent over the year, while the Scotland saw prices decline by 3.3 per cent compared to the Q4 2011. The Northern Ireland still at the bottom of the table, with prices decline 8.2 per cent on an the annual basis.”
“Amongst the English regions, the London again the best performing area, with prices rose 0.7 per cent compared to the Q4 2012. The South West, the only other region to the record price growth over the year, with the rest seeing little declines. With the exception of the East Anglia, the South of England and the Midlands outperformed the North of England. While, Yorkshire & Humberside was the lowest performing English region, with prices decline2.5 per cent over the year.