Britain's house market remained generally stable in 2012, but the outlook remains uncertain under the weak economy and lower level of mortgage numbers, according to the house price index report issued by the Nationwide Building Society on Thursday.

The building society said overall in 2012 the price of a typical home declined by 1 percent, reversing the 1 percent increase recorded in 2011, with the average house price standing at 162,262 pounds (262,865 U.S. dollars) last year.

It said the house prices registered little changes in the last month of 2011 to drop merely 0.1 percent.

Most regions saw price falls during 2012. Among the 13 regions in the country 11 posed annual price falls in 2012, with London continuing to outperform and Northern Ireland to see largest price falls.

House prices in England proved most resilient, declining by just 0.4 percent last year, that of Wales were down 2.7 percent and Scotland, down 3.3 percent.

For the fifth year in succession Northern Ireland registered the largest decline in property values, with prices falling 8.2 percent, leaving prices more than 50 percent below their 2007 highs.

However, the prices in London were 0.7 percent higher at the end of 2012 compared with a year earlier. The Land Registry figures released on Wednesday indicated house prices in London had risen by 7 percent in the year to the end of October.

Robert Gardner, the Nationwide's chief economist, said: "The uncertain outlook for the wider economy is also likely to have kept many potential buyers on the sidelines, unwilling to make a major financial commitment until they feel more optimistic about the future."

"Given that the UK economy was in recession for much of 2012 a 1 percent decline in house prices may be seen as a relatively resilient performance," Gardner held.

"The outlook remains uncertain. Continued low interest rates and policy measures such as the Funding for Lending Scheme should provide some support."

But, with the economy recovery expected to remain fairly weak, the housing market is likely to be characterized by low levels of activity again in 2013, with prices remaining flat or modestly lower over the course of the year, he said. (1 British pound = 1.62 U.S. dollars) Endi

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