Housing Prices in U.K better than expected, at 0.3%

Friday, 27 May 2011 10:58

Housing Prices in the United Kingdom were released just earlier today, with a positive attitude; moreso than what has been expected.  Housing Prices struck 0.3% in May, while it was expected to drop from prior 0.2% to 0.1% this month.  Instead Housing Prices rose by 03%, 0.6% on the three on three month basis.

As reported by UK's nationwide website, the price of a normal UK house this May is1.2% lower than May 2010. 

Following the new release Sterling jumped to a two week high since May 11, gaining over 30 pips to trade at 1.6460 against the U.S Dollar.