Interest rates stay low as house prices show seasonal trend

The Bank of England's Monetary Policy Committee (MPC) has kept UK interest rates on hold at 0.5%, and unveiled no new quantitative easing (QE) measures.
Both decisions were expected, but it will not be clear whether they were unanimous until the minutes of the meeting are released.
At the MPC's November and October meetings, there was a three-way split among its nine members.
In those meetings, one member voted for a rate rise, another for more QE.
The most recent figures showed that Consumer Prices Index (CPI) inflation rose to 3.2% in October, well above the target rate of 2%.
However, most MPC members continue to favour keeping rates on hold to aid the UK's economic recovery.
QE involves the Bank putting fresh money into the financial system and is its main way of stimulating the economy.
Andrew Sentance was the MPC member who voted for rates to rise at the past two monthly meetings, and had in fact done so since June.
Meanwhile, Adam Posen voted in favour of £50bn of extra QE both in October and November.
UK interest rates have now been on hold at 0.5% for 21 months.
Meanwhile UK house prices have continued to slip, falling by 0.1% in November from the previous month, the Halifax says.
The lender, now part of Lloyds Banking Group, said that the average property was now 0.7% cheaper than a year ago, at £164,708.
Sluggish demand and a higher number of properties for sale had pushed down prices, it said.
But it said that signs of a reluctance to sell from some homeowners could halt the decline in prices.