wrapper

UK House price continue to rise in July

Thursday, Aug 13 2015
Sterling is being traded in a tighter range in European part of the session, with only minor importance RICS House Prices figures being released. House prices rose faster in July as demand from buyers picked up, but the number of homes for sale fell to a record low, according to the latest monthly report from surveyors.The report showed increase by 47%.The imbalance between supply and demand prompted surveyors to forecast sizeable house price rises over the next 12 months, with gains most widely expected in East Anglia and Northern Ireland. Rents are also predicted to go up, again driven by demand for homes outpacing supply.
 
Simon Rubinsohn, the Rics chief economist, said the fact prices were rising while sales remained relatively flat highlighted the problems in the housing market. He said: “More worrying still is the suspicion that the imbalance between supply and demand will lead to even stronger price gains over the next 12 months. This is also visible in the firmer pattern in the buyer inquiries series, which has now risen for four months in succession, reflecting in part a further modest easing in credit conditions.”
 
Sterling is currently being traded few points above 1.5610 level. Pair is likely to find support at 1.5550 handle and resistance above 1.5660 area. Later today, in the US session, Retail Sales and Unemployment Claims figures are scheduled for a release.
More in this category: « Greek parliament expected to pass rescue package US Retail Sales rose by 0.6% in July »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.