London House Prices Continue To Rise

3 January 2013, 11:24 | Updated: 3 January 2013, 11:28

House prices fell in every region of the country last year except London and the south west of England.

According to the Nationwide, an average home was worth £162,000 in December - down 1% on the year before.

In London prices increased by 0.7%t the end of 2012 compared with a year earlier.

It also said the price of a home is typically around £95,000 more in the South than in the North, representing a new high and a 2% increase compared with the end of 2011.

Nationwide is predicting that activity in the housing market is set to remain subdued this year amid the difficult economy, with prices at similar levels over 2013.