UK House Prices Rise For First Time In 7 Months - Halifax

RTTNews | 576 दिनों पहले
UK House Prices Rise For First Time In 7 Months - Halifax

(RTTNews) - House prices in the UK rose in October, after falling for six months in a row and at a faster than expected pace despite the subdued market, results of a survey by the Lloyds Bank subsidiary Halifax and S&P Global showed Tuesday.

The house price index rose 1.1 percent from September, when they declined 0.3 percent. Economists had forecast a 0.2 percent gain.

Property prices fell 3.2 percent year-on-year after a 4.5 percent slump in September. That marked the sixth month of decline.

A typical UK home now costs GBP 281,974, which is GBP 3,000 more than that in the previous month.

"Prospective sellers appear to be taking a cautious attitude, leading to a low supply of homes for sale," Kim Kinnaird, director at Halifax Mortgages, said.

"This is likely to have strengthened prices in the short-term, rather than prices being driven by buyer demand, which remains weak overall."

Higher interest rates and wider affordability pressures remained the main challenges faced by buyers though their income has increased due to wage hikes.

"Across the medium-term, with financial markets not anticipating a decline in the Bank of England's Base Rate soon, we expect house prices to fall further overall - with a return to growth from 2025," Kinnaird said.

"The current picture should continue to be seen in the context of the longer-term house price trend as, on average, prices remain around GBP 40,000 above pre-pandemic levels."

Meanwhile, the first-time buyer demand showed signs of resilience. Prices for first-time buyers dropped 2.4 percent annually, which was markedly less severe a fall than the 3.2 percent decline over the past year, Halifax said.

Among regions, South East England continued to the biggest annual decline in house prices.

London continues to top the list with the highest average house price in the UK, at GBP 524,057, which was 4.6 less from a year ago.

read more
U.S. Labor Productivity Slumps 1.5% In Q1, Much More Than Previously Estimated

U.S. Labor Productivity Slumps 1.5% In Q1, Much More Than Previously Estimated

Revised data released by the Labor Department on Thursday showed U.S. labor productivity tumbled by much more than previously estimated in the first quarter of 2025. The Labor Department said labor productivity slumped by 1.5 percent in the first quarter compared to the previously reported 0.8 percent decline. Economists had expected the decrease by labor productivity to be revised to 0.7 percent.
RTTNews | 42 मिनटों पहले
U.S. Trade Deficit Narrows Substantially In April As Imports Plummet

U.S. Trade Deficit Narrows Substantially In April As Imports Plummet

Largely reflecting a sharp pullback by the value of the imports, the Commerce Department released a report on Thursday showing a substantial decrease in the size of the U.S. trade deficit in the month of April. The Commerce Department said the U.S. trade deficit narrowed to $61.6 billion in April from a revised $138.3 billion in March.
RTTNews | 1घंटे 0 मिनट पहले
U.S. Jobless Claims Unexpectedly Rise To Nearly Eight-Month High

U.S. Jobless Claims Unexpectedly Rise To Nearly Eight-Month High

With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits unexpectedly increased in the week ended May 31st. The report said initial jobless claims climbed to 247,000, an increase of 8,000 from the previous week's revised level of 239,000.
RTTNews | 1घंटे 18 मिनट पहले
German Manufacturing Orders Rise Unexpectedly

German Manufacturing Orders Rise Unexpectedly

German manufacturing orders increased in April confounding fears that higher tariffs by the US administration would hit the factory sector, official data revealed Thursday. Factory orders rose 0.6 percent month-on-month in April, following a revised 3.4 percent rise in March, Destatis said. This was the second consecutive month of growth. Orders were expected to fall 1.0 percent.
RTTNews | 1घंटे 46 मिनट पहले
U.S. Trade Deficit Narrows Much More Than Expected In April

U.S. Trade Deficit Narrows Much More Than Expected In April

Largely reflecting a sharp pullback by the value of the imports, the Commerce Department released a report on Thursday showing a substantial decrease in the size of the U.S. trade deficit in the month of April.
RTTNews | 2घंटे 4 मिनट पहले
U.S. Weekly Jobless Claims Unexpectedly Rise To 247,000

U.S. Weekly Jobless Claims Unexpectedly Rise To 247,000

With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits unexpectedly increased in the week ended May 31st.
RTTNews | 2घंटे 8 मिनट पहले
Bay Street Likely To Open On Cautious Note; Resources Stocks May Move Up

Bay Street Likely To Open On Cautious Note; Resources Stocks May Move Up

The Canadian market is likely to open on a cautious note on Thursday with investors looking for news from the trade front. Canadian and U.S. jobs data, due on Friday may provide some clues about the outlook for growth. Higher commodity prices may prompt investors to pick up resources stocks.
RTTNews | 2घंटे 40 मिनट पहले