Home » Currency Note » Currency Note » Currency Note GBP » GBP: house prices unexpectedly jumped in December

Yesterday, Halifax reported that UK house prices unexpectedly jumped by 2.2% in December, which was some rebound from the 1.2% drop in November. The reading lifted annual house price growth to 1.3% in the three months to December, up from 0.3% in November. Interestingly, the figures are entirely at odds with what Nationwide reported last week; both surveys are based on transactions at Halifax and Nationwide, which is where the disparity will lie.

The government came under fire for radio adverts it arranged to be broadcast on commercial radio yesterday. While the adverts do not specifically allude to a no-deal Brexit, they serve to highlight the potential impacts of exiting the EU without a deal. It still remains to be seen what kind of Brexit we can expect, but perhaps we will get more of an idea when MPs vote on Theresa May’s proposals next week.

The only release of note from the UK today is the labour productivity figures for the third quarter of 2018. In the previous quarter, productivity grew by 0.5%, but the markets are expecting a decline of 0.4% this time around. However, with so many economic data releases defying expectations of late, it would not be all that surprising if the reading missed its anticipated mark.

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