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UK house prices 2.9% higher in Q1

Thursday, Apr 07 2016
UK house prices in the first three months of 2016 were 2.9% higher than in the final quarter of 2015. The annual rate has grown from 9.7% to 10.1% in March. Worsening sentiment regarding the prospects for 
the UK economy and uncertainty ahead of the European referendum in June could result in some softening in the housing market over the next couple of months. 
Current market conditions, however, remain very tight with an acute supply/demand imbalance continuing despite an improvement in the number of properties coming on to the market for sale in recent months. This, together with continuing low interest rates and a healthy labour market, indicate that house price growth is set to remain robust.
 
Sterling is currently being traded few points above 1.4080 level. Pair is likely to find support around 1.4020 handle and resistance above 1.4150 level. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
More in this category: « Australian construction sector continues to struggle in March ECB ready to ease monetary policy further »

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