Home prices within the UK housing market have fallen to meet the end of the year slowdown.  It is not unusual for the market to see a slowdown at this time of the year, but currently it is not a desirable function of the economy.  Many factors have been blamed on the recent slide.  A majority believe the financial crisis in the Eurozone has created a level of consumer confidence which is going to be difficult to reverse.  Once a viable solution is committed to, the confidence level of the everyday member of the UK will again be in a growth stage.

The Halifax has its own ideas regarding the near future of the UK housing market.  The areas of the country which will likely continue to see more than simply challenging times are the south east regions of England and Scotland.  Public sector employment is expected to be highly relied upon.

Laura Butcher, spokeswoman for the Royal Institute of Chartered Surveyors Scotland, commented on the possible basis for falling house prices, saying: “It’s no surprise the average house price has fallen slightly in 2011 considering the general economic climate and subdued mortgage lending. In Scotland there are still popular areas such as parts of Aberdeenshire that are bucking the trend, and buyers from overseas are helping to keep the market buoyant.

“Chartered surveyors expect little to change in Scotland in 2012. Prices could edge slightly lower as unemployment continues to rise. However, the lack of supply in the market is likely to prevent any significant house price declines.”