UK house prices in the three months to October were 5.2% higher than in the same three months of 2015. Prices in the last three months (AugustOctober) were 0.1% higher than in the preceding quarter. Martin Ellis, Halifax housing economist, said: “House prices in the three months to October were largely unchanged compared with the previous quarter. The annual rate of growth continued on its recent downward trend, easing to 5.2%.
“Activity levels, like house price growth, have softened compared with a year ago. Home sales, however, appear to have stabilised in recent months following the distortions earlier in the year due to the changes to stamp duty in April.“
Sterling is currently being traded around 1.24 handle. PAir is likely to find support around 1.2350 level and resistance above 1.2450 area.
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