Data out earlier. Posting for info
- 0.1% prev
- yy NSA +4.5% vs +3.8% exp vs +3.75 prev
Uptick in the reading to 8-month highs tells us that the UK housing market isn't contained as yet but GBPUSD wasn't impressed and after a small rally continued its journey down to 1.4811 afterwards from 1.4837
Says Nationwide's chief economist Robert Gardner:
"As we look ahead to 2016, the risks are skewed towards a modest acceleration in house price growth, at least at the national level, despite the likelihood of interest rate increases from the middle of next year. House prices are likely to rise between 3 and 6% over the next 12 months"
