British houses prices fell in December

British house prices fell by 0.1 in December from the level in November, and by 1.0 percent on an annual basis, a key survey by home-loans provider Nationwide showed on Thursday. The average value of a home in Britain stood at £162,262 ($262,605, 200,378 euros) in December, Nationwide said in a statement. It added that prices fell by 1.0 percent during 2012, reversing the 1.0-percent gain seen in 2011. Looking ahead, the lender cautioned that Britain's flagging property market was likely to remain flat or edge lower this year. "With the economic recovery expected to remain fairly weak, the housing market is likely to be characterised by low levels of activity again in 2013, with prices remaining flat or modestly lower over the course of the year," said Nationwide chief economist Robert Gardner.