-
How UK house prices can help lift the GBP next week
Here are a range of factors supporting further GBP strength and what may call it into question. Andy Haldane said that the UK housing sector was ‘on fire’. In fact, the UK’s Nationwide house price index has printed a 1.8% increase in May on top of the 2.1% jump in April. The yearly rate has sped up to 10.9% year over year vs 7.1% in April and 6.4% in April. Why has the UK Housing market exploded higher? A number of complementary factors have come together all at once for the UK”s housing sector. Very low-interest rates, a cut in the UK’s stamp duty tax, and pent up savings of around £150 billion have all ... (full story)