• Rightmove House Price Index for July: -0.8 % m/m (prior was +0.1%)
  • Rightmove House Price Index for July: +6.5% y/y (prior was +7.7%)

More from the July report:

Key points

  • Price of property coming to market falls for the first time this year, down by 0.8% (-£2,116) this month, leading to fall in annual rate of growth from 7.7% to 6.5%
  • Speedier sales: average time to sell falls to 65 days from 75 days in same period last year
  • London ripple effect spreads, especially in southern regions: upwards price pressure remains where shortage of supply still fuels price growth
  • Rightmove upgrades 2014 forecast: new seller asking prices will see an 8% annual increase at year end, hitting the top end of our original forecast of 6% – 8%

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GBP/USD not doing anything much