Saturday, January 29, 2011
Average houses are slightly too expensive!
House prices could gain 1.7 percent in 2012, but analyst forecasts again betrayed a strong sense of uncertainty, ranging from a 10 percent drop to a 5 percent gain. On a scale where 1 is extremely undervalued and 10 is extremely overvalued the economists gave UK house prices a median 6. The average house price in December stood at 162,763 pounds, according to Nationwide Building Society -- a level economists still feel is slightly expensive in relation to Britain's poor economic fundamentals.