U.K. House Prices Fall

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U.K. House Prices Fall

July 9, 2012

BY ILONA BILLINGTON

LONDON—Tighter credit conditions and a weak economy weighed on the U.K. housing market in June as house prices fell and activity slowed, a survey by the Royal Institution of Chartered Surveyors showed Tuesday.

Separately, a survey from the British Retail Consortium U.K. retail sales for the first half of 2012 were subdued as the wettest June on record curbed spending, despite shoppers having an extra day off to celebrate Queen Elizabeth II’s Jubilee.

House prices retreated further in June amid a weak economy and the euro-zone debt crisis. A balance of minus 22 surveyors reported house prices fell in June, ….”