UK housing prices continues it rising pattern for the sixth consecutive month in a row. An increased demand from first time buyers has increased demand for properties, with the stamp-duty increasing by April.
An increase of 0.4% in February has now pushed housing prices up by 3.9% in the last 12 months. Housing activity is remaining resilient in the last 6 months, despite challenges for disposable income ongoing. In the last month we have seen signs of relief for the UK economy with better growth activity and a steadier job market. These factors have also contributed to additional tensions for higher inflation levels for the UK and with BoE being reserved moving forward about lowering borrowing costs. All these factors have seen GBP/EUR move from a mid-market level of 1.17 back in end of January to levels around the 1.21-mark to date, a gain of roughly 3%. Evidentially it’s not all coming down to sterling strength, in the last couple of days we have seen EUR weakness after international trade concerns from the US.
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