On Friday a new set of data showed the recent slowdown in house price growth may have already ended as it accelerated to 11.3 per cent in November from 11 per cent in October, according to figures released by LSL property services.
The report showed growth rates were lifted by London and the south east. “After a temporary hiatus in at the highest risers of the property market, growth has rallied again in the capital – with values in prime spots such as Kensington and Chelsea, and Hammersmith and Fulham surging 5.3 per cent over the course of the month, hitting new price records along the way,”
First-time buyers borrowed 22 per cent more in October than a year ago and 10 per cent higher than in September, figures released by the Council of Mortgage Lenders show. The amount of lending to home movers climbed eight per cent in October compared with September.
U.S. consumer sentiment rose in December to a near eight-year high on improved prospects for jobs and wages and on lower oil prices, figures released on Friday showed. The University of Michigan's preliminary reading on the overall index on consumer sentiment for this month came in at 93.8, the highest reading since January 2007 and above the median forecast of 89.5 among 70 economists. The final November reading was 88.8.
The survey's gauge of consumer expectations rose to 86.1 from 79.9, also the highest since January 2007, and beating the 80.5 forecast. The survey's barometer of current economic conditions rose to 105.7 from 102.7 and above the 101.4 forecast. It was the highest level since February 2007. Wage gains rose to their highest level since 2008, and consumers voiced the most favourable buying attitudes in several decades. The survey's one-year inflation expectation rose to 2.9 percent from 2.8 percent, while its five-year inflation outlook also rose to 2.9 percent from 2.6 percent last month
There are no major data releases today.
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