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UK house prices increased by 0.3%

Wednesday, Jan 27 2016
House prices increased by 0.3% in January, while annual house price growth broadly stable at 4.4%, according to the latest Nationwide report. The pace of UK house price growth remained broadly stable during January. Indeed, annual house price growth has remained in a fairly narrow range between 3% and 5% since the summer of 2015. This trend was maintained in January, with house prices up 4.4% over the year, broadly in line with the 4.5% increase recorded in December.
 As we look ahead, the risks are skewed towards a modest acceleration in house price growth, at least at the national level.  The labour market appears to have significant forward momentum. Employment has continued to rise at a robust rate in recent months and, while the pace of earnings growth has slowed somewhat, in inflation-adjusted terms regular wages continue to rise at a healthy pace
 
Sterling is currently being traded around 1.43 handle. Pair is likely to find support around 1.42 handle and resistance above 1.4350 level. Later today, in the US session, FOMC interest rate decision and the following statement are scheduled for a release.
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