House Prices in UK Will Remain Stable in 2012 – Halifax

In its latest forecast for the British property market, experts at Halifax said that house prices in the country will remain the same in 2012.

Currently, an average property in the country is priced at 163,700 pounds, meaning it changed little from the same time last year. Halifax property specialists believe that there are no significant reasons for the prices to deviate next year.

Given the fact that the Bank of England has kept the base rate at the level of 0.5% and that the demand for UK houses outstrips the supply, the market will remain stable next year.

Commenting on the forecast, Martin Ellis of Halifax, said: "House sales and the supply of properties on the market for sale have remained very stable since late 2010. These steady market conditions have helped to stabilise house prices and sales. he prospect of an exceptionally low Bank of England Bank Rate over the foreseeable future is likely to continue to support the market over the coming 12 months."

You can view the full version of the Halifax forecast on the bank's official website.