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"House prices have remained surprisingly resilient in recent months, despite the deterioration in the economic outlook"
- Robert Gardner, the Nationwide's chief economist
House prices in U.K. edged higher for a third consecutive month in November, said the Nationwide Building Society on Tuesday. Average home price rose 0.4 per cent to ВЈ165,798, 1.6 percent higher than a year ago.
"House prices have remained surprisingly resilient in recent months, despite the deterioration in the economic outlook," said Robert Gardner, the Nationwide's chief economist.
"But, with the UK economic recovery expected to remain sluggish well into 2012, house price growth is likely to remain soft, with prices moving sideways or drifting modestly lower over the next twelve months."