UK house price 1.6% higher in Q4

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Thursday, Jan 07 2016

House prices in the three months to December were 1.6% higher than in the previous three months. This was the second successive month that this measure has been below 2.0%, indicating a possible slight softening in the underlying rate of price growth. On a monthly basis house prices rose 1.7%. Analysts were predicting 0.5% increase.

There remains, however, a substantial gap between demand and supply with the latest figures showing a further decline in the number of properties available for sale. This situation is unlikely to change significantly in the short-term, resulting in continuing upward pressure on prices.

Sterling is currently being traded around 1.4570 handle. Pair is likely to find support around 1.4550 handle and resistance above 1.4630 level. Later today, in the US session, Unemployment Claims figures are scheduled for a release.

More in this category: « Australian Building Approvals fell by 12.7% German Factory Orders rose more than expected »

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