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UK annual house price growth unchanged at 9.2%

Tuesday, Jun 07 2016
House prices in the three months to May were 1.4% higher than in the previous quarter. The annual rate of growth was unchanged at 9.2%; the lowest since last autumn. Low interest rates, increasing employment and rising real earnings, continue to support housing demand. 
The strength of demand, combined with very low supply, is causing house prices to rise at a brisk pace in quarterly and annual terms. Increasing affordability issues, caused by a sustained period of higher-than-earnings house price growth, should curb housing demand and result in some slowdown in house price growth as the year progresses.” 
 
Sterling is currently being traded few points above 1.4530 level. Pair is likely to find support around 1.4450 handle and resistance above 1.4550 level. There will be no major data releases later today.
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