UK Confidence in Housing Market Near Three Year Low

Britons’ confidence in the housing market stayed near a three-year low in March as sentiment toward the economic outlook soured, according to Halifax.

An index of home-value expectations climbed to 44 from 42 in October, when Brexit pushed it down by a record to its lowest level since June 2013, the lender said on Friday. Fifty-eight percent of respondents predict prices will advance over the next 12 months, with 14 percent forecasting decreases.

The report adds to evidence that the property market is cooling under Brexit after prices boomed in the past decade. A measure of Britons’ expectations for the economy over the next year compiled by Ipsos MORI fell to its weakest level in five years last month, Halifax said. House price growth has weakened to the slowest in almost four years.

Bloomberg

Wolves Circle Oil and Gold Ahead of Le Crunch.

Gold Unchanged on Higher Jobless Claims and French Election Jitters

USD/JPY – Yen Shrugs Off Soft Japanese Trade Surplus

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.