UK House Prices Rise 2.7% in August

House prices shot up by 2.7% in August, according to the Halifax, the highest monthly rise since May 2014.

The surprise leap contributed to a 3% rise in prices over three months and annual house price inflation of 9%. The average house price now stands at £204,674, according to the lender.

“The shortage of secondhand properties for sale on the market is resulting in upward pressure on house prices,” said Martin Ellis, Halifax housing economist.

“At the same time, economic recovery, real earnings growth and very low mortgage rates are supporting housing demand.”

via The Guardian

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza