UK house prices expected to move sideways or fall modestly

Date: Wednesday 01 Feb 2012

House prices fell by 0.2% on the month in January according to the latest data just published by Nationwide Building Society, to £162,228.

Prices were 0.6% higher than versus the same month of a year ago.

Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said:

“(…) The demand/supply balance may move further in favour of buyers in the months ahead. The economy is not expected to gather much momentum until the second half of 2012 at the earliest, which suggests that labour market conditions and buyer sentiment may be slow to improve.

“Nevertheless, with the flow of properties coming onto the market still more of a trickle than a flood, house prices are likely to continue to move sideways or only modestly lower in the months ahead."

AB

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