Latest data released by Halifax Bank of Scotland - 7 February 2018

  • Prior m/m -0.6%; revised to -0.8%
  • Halifax HPI 3m/y +2.2% vs +2.4% expected
  • Prior 3m/y +2.7%

According to Halifax, this is the slowest annual rise in house prices since July last year and they note that consumer prices continue to grow faster than wages - which is putting pressure on household prices.

The average house price recorded in the measure is £223,285.

Not a positive reading to start the year, and is something to look out for in the coming months.

Cable now at 1.3935 after falling to lows of 1.3919 earlier, while EUR/GBP is at 0.8880 and GBP/JPY is at 151.92.