UK data – Rightmove House Price Index +0.4% m/m (prior -1.9%)

<p>The Rightmove House Price Index is a gauge of asking prices for UK homes.</p><p>It picked up in September to +0.4% m/m</p><ul><li>prior -1.9%</li></ul><p>for the y/y -0.4%</p><ul><li>prior -0.1%</li></ul><p>Comments from the report for the month in summary:</p><ul><li>BoE's 14 consecutive interest rate rises
contributed to unusually slow activity in August</li><li>expects a bounce in activity in the autumn as
market conditions improve</li><li>the number of home sales was down 7% compared
with 2019, before the pandemic</li><li>there were signs activity was starting to
pick up, as the number of homes on the market rose 12% in the
first week of September compared with the unusually low weekly
average in August</li></ul><p>GBP/USD update, not a lot changed on the data:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.