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"There is currently considerable uncertainty regarding the prospects for the U.K. economy"
- Martin Ellis, an economist at Halifax
U.K. housing market will remain broadly unchanged through 2012 on weak demand and shortage of supply, said Monday mortgage lender Halifax, a unit of Lloyds Banking Group.
"There is currently considerable uncertainty regarding the prospects for the U.K. economy," Halifax economist Martin Ellis said in the statement. "Prices are again likely to end the year at levels close to where they begin with the market continuing to lack any real direction."
"The outlook for both the economy and house prices is particularly uncertain" and the Bank of England won't raise its benchmark interest rate in the next year, said Halifax on Monday.