UK house prices rose by 0.1%

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Monday, Jul 20 2015

Today only minor importance Rightmove HPI figures were released from the UK. New analysis from Rightmove showed the biggest gap between demand and supply is in the first-time buyer sector.Number of enquiries per property for two bedrooms or fewer is 24% higher than for larger properties of three bedrooms or more. Challenge for government, planners and developers is how best to address this specific demand.

Price of property coming to market saw marginal increase for the second consecutive month to a new record high, up 0.1% (+£191) to £294,542. Sharp drop in new seller numbers emphasises supply crisis and shortage of people trading up. Number of new sellers wad down 10.6% on same period in 2014 . High June demand with Rightmove visits and enquiries to agents both up 22% on last year.

Sterling is currently being traded around 1.56 handle. Pair is likely to find support around 1.5550 level and resistance near 1.5660 area. There will be no major data releases in the rest of the session.

More in this category: « Greek banks reopen on Monday Gold markets fall apart »

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