Forex - house prices to continue their decline///////

UK house prices fell for a sixth month in December and extend their decline in 2011 on demand and tighter mortgage-lending conditions,said on Monday.

The average cost of a home in England Wales dropped by 0.4pc during the month, according to the housing intelligence group.

The drop was driven by the ongoing shortage of buyers, with estate agents reporting a further fall in the number people registering with them in December, the sixth consecutive monthly decline.

Richard Donnell director of research at said:The seasonal slowdown which began at the beginning of November continued apace into December.

the group said house prices had fallen by 1.5pc during 2010, with property values ending the year at a than they started it in 56pc of England and although they were higher in 15pc of areas mainly in London the South East.

Looking ahead we expect house prices to remain under downward pressure in the first half of on the back of weak although we expect the supply of homes for sale to shrink as vendors withdraw from the market or reduce pricing to a level where property will sell.////////