Record inflation in the housing market in Britain for the last two years
Housing in the UK have increased by 5,2% compared to price levels in March 2009 after their prices in December reported its first positive annual growth rate for the past two years. Annual inflation in the housing market in March was the largest since December 2007
Within the last month house prices have risen by 1.1% and thus largely offset the decline of 1.6 percent on a monthly basis, reported in February.
This monthly report showed one of the largest mortgage lenders in the country - Halifax Bank of Scotland. The news surprised market analysts, who expected to become more expensive properties twice less in March.
The average price of homes purchased with mortgage loans from the bank Halifax, is 168 521 pounds in March This is 9.1 percent above the lowest point of the real estate market, which was in April last year, according to the report of the mortgage lender.
During the first three months of the year prices rose by 0.6 percent compared to last quarter of 2009, when the reported growth of 3.6 percent on a quarterly basis.
The number of properties posted for sale has increased in the last month and this is reduced further imbalance between supply and demand market. According to cold weather in Halifax earlier this year has reduced significantly the activity of the buyers.
Good economic data for the UK today showed that the industrial sector reported strong growth in February. The index, which monitors the production of factories, mines and utilities, rose more than twice the expected 1% on a monthly basis. This is the third of its growth for the past four months.
Data from the National Bureau of Statistics show that factory production in turn increased by 1.3% in the estimated monthly increase of 0.7 per cent. Industry trends are leading indicator for the state of the economy because the manufacturing sector respond quickly to the ups and downs in business cycles.
At 11:50 pm local time one lira are exchanged for 1.5190 dollars cheaper by the pound to 0.3 percent since the beginning of today\'s foreign exchange session.
At 14:00 local time interest is expected decision of Bank of England in April, according to analysts, the base rate in the country will remain 0.5 percent, a program to increase liquidity in the economy by buying financial assets will be increased from its current 200 billion pounds.
Published on 2012-05-22 10:17:22
Source: Investor.bg
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