According to the recent report by Halifax, the prices on British residential property kept growing in August. On top of that, the experts report the highest pace of price growth seen over the last 15 months.
In particular, the housing prices grew by 2,7% m/m over the reporting period. This increase followed July’s drop by 0,4%. Analysts had expected a 0,5% increase in August which means, the actual figures managed to exceed the expectations by far. These are the best figures since May 2014.
The report also says that in June-August, the housing prices advanced by as much as 3%, thereby exceeding 2,5% seen in May-July. If to compare the latest figures to those seen in August 2014, this has been a 9% increase, well above 7.9% expected by analysts.
Meanwhile, despite the positive price dynamics recently seen in the UK, the experts expect the price growth to be hindered by high prices relative to the average household income in Great Britain, which will make residential property less affordable, especially amid tougher mortgage lending policies and likely interest rate hikes.
FOREX
Meanwhile, the British Pound is reported to have been following the mid-term downtrend against the U.S. Dollar. In particular, GBPUSD is going down within the scope of wave A/B od level Weekly, Masterforex-V Academy reports.
