Housing market is "dogged by uncertainty"
- Richard Donnell, director of research at Hometrack
U.K. month-on-month house prices remained unchanged in January, after falling 0.2 per cent in November and December, estimated the property researcher Hometrack Ltd. Values fell 1.6 per cent from January 2011.
"Demand remains constrained by the uncertain economic outlook," Richard Donnell, director of research at Hometrack, said in a statement.
"The net effect will be a continued negative balance between supply and demand, pointing to further downward pressure on prices in the months ahead."
The market is "dogged by uncertainty," Donnell said. "Given the pressure on household finances and the outlook for the wider economy as a whole, we expect only a modest improvement in levels of demand in the coming months."
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