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UK house price 1.5% higher in the three months to April

Monday, May 09 2016
House prices in the three months to April were 1.5% higher than in the previous quarter, this rate has halved from 2.9% in March. The annual rate of growth eased from 10.1% to 9.2% in April. Both the quarterly and annual rates are at their lowest since last autumn. Current market conditions remain very tight as the severe imbalance between supply and demand persists. 
This situation, combined with low interest rates and rising employment and real earnings, should continue to push house prices up over the coming months. Weakening sentiment regarding house price prospects and a dip in consumer confidence, however, suggest that annual house price growth may ease.
 
Sterling is currently being traded few points above 1.4450 level. Pair is likely to find support around 1.4380 handle and resistance above 1.45 level. There will be no data releases later today.
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