Mixed Feelings About U.K. House Prices

House prices in the U.K. fell for the first time this year in July, but 2014 still remains the “year to move”, according to Rightmove.  In its latest House Price Index released on Monday, Rightmove reveals that U.K. house prices fell 0.8 percent in July, leading to a fall in the annual growth rate to 6.5 percent from 7.7 percent in June.

“There is evidence that the frenetic activity seen in some areas during the first half of the year is cooling in part due to stricter mortgage eligibility criteria and previously pent-up demand having now been satisfied,” the report states.

High house price increases in the first half of the year drew the attention of both the IMF and the European Union, and fueled fears of a housing bubble, prompting the Bank of England to implement new measures and toughen its rhetoric to cool down the market.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.