U.K House Price Index declined by 0.6%

Thursday, 1 September 2011 11:02

United Kingdom's Nationwide House Price Index was released earlier today.  According to reports by nationwide.com.uk, House Prices declined by 0.6% in the month of August.  Compared to August 2010, house prices are down by 0.4% in August 2011.

Expectations rallies that Nationwide HPI would fall from July's 0.3% to 0.1%; instead prices fell from 0.3% to an even larger decline ot -0.6% in August.

This Index measures the change in the selling price of homes with mortgages backed by Natiowide.

GBPUSD is currently trading at 1.6230 with session highs of 1.6260 and low of 1.6216.

EURGBP is trading near the session low [0.8802] at 0.8806.  The pair reach a high of 0.8855