British house prices rebound in December: survey

31st December 2010, Comments 0 comments

British house prices rose 0.4 percent in December from November, a key survey by home-loans provider Nationwide showed on Friday.

"The seasonally adjusted price index for a typical UK property rose by 0.4 percent month-on-month in December, after having posted declines in the previous two months," Nationwide's chief economist Martin Gahbauer said in a statement.

"For 2010 as a whole, house prices posted an unremarkable gain of 0.4 percent, as most of the price increases from the first half of the year were reversed during the second half."

Gahbauer added that 2011 would likely see a "slow drift down in house prices" amid Britain's fragile economic recovery.

The average value of a home in Britain stood at 162,763 pounds (188,797 euros, 252,266 dollars) in December, according to Nationwide.

© 2010 AFP

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