UK House Prices Rise in February

House prices continued their slow ascent in February, showing a modest monthly increase of 0.5%, according to the Halifax.

This contributed to both a quarterly and annual price rise of 1.9%, the lender said, bringing the price of the average UK house to £163,600.

“House sales also continue on a modest upward trend,” Martin Ellis, housing economist for the Halifax, said. “This increase in both prices and activity in recent months is consistent with evidence of some improvement in market conditions.

“The more than half-a-million increase in the number of people in employment over the past year is likely to have been a factor supporting housing demand.”

The headline figures hide a mixed picture, however, as the number of mortgage approvals for house purchases – a leading indicator of completed house sales – fell by 2% between December 2012 and January 2013, according to the Bank of England.

via Guardian

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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 has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. 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