Salient to Investors:
- London home sellers cut asking prices by the most for a December in five years due to an influx of supply and seasonal factors, but prices are up 6.8 percent from a year ago.
- Average prices in England and Wales fell by the most since January 2002 but are up 1.4 percent from a year ago.
- Competition among lenders will help lift UK house prices by 2 percent in 2013.
- The London bubble will continue to inflate, albeit more slowly.
- New UK property listings in 2013 will be at the 1.2 million level seen in each of the last 3 years.
The Building Societies Association said UK borrowers are finding it easier to get a mortgage than at any time since it started measuring in 2008.
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