The UK house price report from Rightmove:
- Prices up 0.9% m/m
- Prior readings were -2.9% m/m and +5.3% y/y
At the time of the dip in the data last month, there was talk about house prices falling because of Russian money drying up due to the trouble in the Ukraine.
No initial reaction to the data but it’s a very thin market. Virtually all the UK focus is on the referendum on Thursday. That said, if cable can begin to move to the upside on some good housing news, that could point to some longer-term buying.
