UK house prices fall

09:28, December 29, 2009      

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UK house prices will decline next year as rising unemployment and concern about the government's fiscal squeeze limit demand, Hometrack said.

Property values will drop 1 percent after stagnating in 2009, the London-based research group said. Prices increased 0.1 percent in December from the previous month to an average 156,900 pounds ($250,000). The economic slump has put more than 600,000 people out of work, and the number may rise as the UK recovers from its longest recession on record.

Source: China Daily
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