House prices 'to fall 2% in 2011'

Hometrack says after a rise in supply over the last six months and continuing weak demand will force vendors to cut their asking prices or withdraw property from the market. Demand for housing fell 4.3% in November, the fifth consecutive monthly fall and the largest drop since January 2009, amid consumer concern over government spending cuts and the economy. But Hometrak says the supply/demand balance will change in the coming months, as supply begins to drop back. Hometrack recorded the first fall in supply for nine months in November, down 0.4%, which it says was linked to weaken...