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☆ Opinion: Rishi Sunak’s election looks like a final gasp
▼ + stars: | 2024-05-23 | by ( Opinion Holly Thomas | ) edition.cnn.com time to read: +8 min

For those outside the Westminster bubble, the announcement felt less like a starting pistol than a final gasp. But unlike Sunak, who with his wife Akshata Murty is worth an estimated £651 million ($828 million), most of us can’t afford it. The British economy never fully recovered from the 2008 recession and, consciously or not, most people still feel the sting every day. As Sam Knight recently noted in the New Yorker, the average British worker is estimated to be £14,000 ($17,800) worse off per year now than they would be if earnings had risen at pre-crisis rates. Her disastrous mini-budget wiped £30 billion off the UK economy that autumn, according to independent think tank Resolution Foundation, and sent interest rates rocketing.

Persons: Holly Thomas, Katie Couric, Rishi Sunak, Keir Starmer, Tony Blair, Akshata Murty, Sam Knight, Brexit, Liz Truss, It’s, there’s, —, Boris Johnson, Johnson, who’d, that’s, Blair Organizations: Katie Couric Media, CNN, London CNN —, Conservative, Westminster, Labour, British Medical Association, BMA, Commission, Yorker, Evening, Office, National Statistics, Tory, Foundation Locations: London, Westminster, England, British, Europe, Rwanda

☆ ASML and more: UBS names sectors and over 10 global stocks to play right now
▼ + stars: | 2024-01-25 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Europe is set for a "weak stagnation" that will dampen the market, but several sectors and stocks stand out to UBS as good plays this year as growth stabilizes and inflation slows. "Our macro outlook for Europe is for a weak stagnation that takes European equities modestly lower but delivers another year of actionable divergences between sectors and stocks," UBS analysts led by Gerry Fowler wrote in a Jan. 19 note. "In 2024, we think the factors that will perform are domestic (smaller companies), quality and growth," the analysts wrote, adding that slower growth and lower yields should reduce the headwinds for the valuations of growth stocks. 'Well-positioned, domestic, quality, growth companies' "Well-positioned, domestic, quality, growth companies" that UBS has given buy ratings include Spanish clothing company Industria de Diseno Textil, British bakery chain Greggs and online real estate platform Rightmove as well as French construction player Vinci . It has a buy rating on ASML Holdings , SAP , Infineon Holdings and Capgemini , giving them potential returns of 22%, 17%, 40% and 10%, respectively.

Persons: Gerry Fowler, Vinci, — CNBC's Michael Bloom Organizations: UBS, International Monetary Fund, Industria de Diseno Textil, Software, Gartner, ASML Holdings, SAP, Infineon Holdings Locations: Swiss, Europe, Spanish, China

☆ Opinion: ‘I messaged 180 people and got 6 viewings.’ The crushing reality of renting in this city
▼ + stars: | 2023-11-29 | by ( Opinion Jemal Polson | ) edition.cnn.com time to read: +7 min

This isn’t due to a constant need to be in new surroundings and no, I do not own four homes. When I was searching for a new place to live over the summer last year, I messaged more than 180 people and only managed to get six viewings through the entirety of my search. London tenants are paying an average of £2,627 ($3,293) per month for rent – a 12.1% increase over the last year alone. I haven’t felt secure in a rental property in years – partly due to feeling as though I’m at the mercy of landlords who have the power to change my situation at a moment’s notice. No matter your relationship status, age or gender identity, no one in London is going through renting unscathed.

Persons: Read, I’ve, Jemal, SpareRoom.com, I’m, SpareRoom, –, It’s, ”, They’re, they’ve Organizations: CNN, London CNN — Locations: London

☆ Morning Bid: Chip stocks cheered while the rest retreat
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 30, 2023. Monthly retail sales data is due on Wednesday but the country's Singles Day shopping extraganza over the weekend - equivalent to Black Friday sales elsewhere - recorded only meagre growth. A sub-index of tech shares remained firmly positive but another of mainland property developers slumped more than 1%. U.S. retail sales data is also due on Wednesday, preceded by CPI a day earlier. ECB President Christine Lagarde last week said that rates will stay restrictive at least for several quarters.

Persons: Kevin Buckland Chip, Christine Lagarde, Luis de Guindos, Catherine L, Mann, Huw Pill, BoE's Mann, Sweden SEB, Kevin Buckland, Edmund Klamann Organizations: REUTERS, Staff, Wall, Reuters, Nikkei, CPI, Federal Reserve, Finance, Bank of England, New York Fed, Thomson Locations: Frankfurt, Germany, China, Hong Kong, Elswhere, Sweden

☆ Asking prices of UK homes fall by most in five years, Rightmove says
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 13 (Reuters) - Asking prices for homes in Britain have fallen at their fastest pace in five years for the time of year, property website Rightmove said on Monday, underscoring how rising borrowing costs have caused a housing market slowdown. Average asking prices for homes fell by 1.7% between Oct. 8 and Nov. 4, a bigger fall than is typical for the pre-Christmas period, Rightmove said. "Buyers are still out there, but for many their affordability is much reduced due to higher mortgage rates," Rightmove director Tim Bannister said. Rightmove said asking prices were 3% below May's peak while agreed sales were 10% below their pre-pandemic level in 2019, a less severe fall than in the month to early October. There were signs that the shortage of homes for sale was easing with properties for sale only 1% behind their 2019 level, it said.

Persons: Rightmove, Tim Bannister, William Schomberg, Andy Bruce Organizations: Bank of England, Thomson Locations: Britain

☆ Asking prices of UK homes show smallest October rise since 2008
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 16 (Reuters) - Asking prices for homes in Britain have risen at their slowest pace for the time of year since 2008, property website Rightmove said on Monday in a latest sign of how the climb in borrowing costs has slowed the housing market. Average asking prices for homes increased by 0.5% between Sept. 10 and Oct. 7 from the previous four weeks, well below the average increase for the period of 1.4%, Rightmove said. Prices were down 0.8% compared with a year earlier and the number of agreed sales was down 17% in annual terms. Other measures of Britain's housing market - which boomed during the COVID-19 pandemic - have also cooled with the Royal Institution of Chartered Surveyors' measure of house prices showing the most widespread falls since 2009 in September. Reporting by William Schomberg; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

Persons: Rightmove, Tim Bannister, William Schomberg, William James Our Organizations: Royal Institution, Chartered Surveyors, Bank of England, Thomson Locations: Britain

☆ UK home-buyer demand inches up as mortgage rates fall: Zoopla
▼ + stars: | 2023-09-27 | by ( David Milliken | ) www.reuters.com time to read: +2 min

REUTERS/Phil Noble/File Photo Acquire Licensing RightsLONDON, Sept 28 (Reuters) - More Britons made enquiries with estate agents about potential house purchases over the past four weeks as mortgage rates started to fall, breaking a downward trend which has been in place since April, property website Zoopla said on Thursday. "Better news on inflation and the end of base rate increases has provided scope for lenders to start reducing mortgage rates which has supported a modest uptick in demand for homes," Zoopla's executive director, Richard Donnell, said. Weekly mortgage data collated by property website Rightmove showed the average interest rate for a mortgage with a two-year fixed rate fell from an average of 6.41% in August to 6.07% this week. This still represents a sharp increase from 4.60% a year ago, when mortgage rates had already begun to climb after bond markets baulked at the then-Prime Minister Liz Truss' budget plans as well as BoE tightening. Mortgage lender Halifax said house prices in August were 4.6% lower than a year earlier, the sharpest drop in 14 years.

Persons: Phil Noble, Zoopla, Richard Donnell, Rightmove, Liz Truss, BoE, David Milliken, William James Our Organizations: REUTERS, Royal Institution, Chartered Surveyors, Thomson Locations: Knutsford, Britain, Halifax

☆ Asking prices for UK homes pick up slightly despite summer slowdown: Rightmove
▼ + stars: | 2023-09-17 | by ( ) www.reuters.com time to read: +2 min

A rainbow is seen over apartments in Wandsworth on the River Thames as UK house prices continue to fall, in London, Britain, August 26, 2023. Rightmove said average asking prices for homes increased by 0.4% from the sharp 1.9% drop in the month before, but below the ten-year average of a 0.6% rise in September. A closely-watched Royal Institution of Chartered Surveyors report last week showed a sharp contraction in the market was underway. Rightmove said the number of home sales was down 7% compared with 2019, before the pandemic distorted the market. It said the rate of reduction in asking prices and the number of homes reduced in price hit the highest since January 2011.

Persons: Kevin Coombs, Rightmove, Tim Bannister, Bannister, Suban Abdulla Organizations: REUTERS, Bank of England, Royal Institution, Chartered Surveyors, Bank of England's, Nationwide, Thomson Locations: Wandsworth, London, Britain, Halifax

Fresh data on Thursday reinforced the extent of the U.K.'s house price slide this summer, with August prices down by 1.9% on the previous month, the steepest decline since November. The figures are from mortgage lender Halifax and follow prior surveys showing a sharp slowdown from Zoopla and Rightmove. House prices were 4.6% lower year-on-year, the biggest drop since 2009, largely due to the record high property prices seen in summer 2022 — though the average price is still £40,000 ($49,992) above its pre-pandemic level. "It's fair to say that house prices have proven more resilient than expected so far this year, despite higher interest rates weighing on buyer demand," said Kim Kinnaird, director at Halifax Mortgages. "However, there is always a lag-effect where rate increases are concerned, and we may now be seeing a greater impact from higher mortgage costs flowing through to house prices."

Persons: Kim Kinnaird, — Jenni Reid Organizations: Halifax Locations: Halifax

☆ British home prices to fall 4% in 2023 as borrowing costs bite: Reuters poll
▼ + stars: | 2023-09-01 | by ( Jonathan Cable | ) www.reuters.com time to read: +4 min

The most pessimistic forecast was for a 10% fall, despite consumer prices expected to rise 7.5% this year, according to a separate Reuters poll. They were expected to flatline in 2024 and rise a little over 3% the year after, little changed from the previous poll. "The London housing market ebbs and flows, yet is there really such a thing as a 'London property market' nowadays?" RENTAL STRESSThose unable or unwilling to make it onto the property ladder will feel the pinch from surging rental costs. Private rental prices paid by tenants in Britain rose 5.3% in the 12 months to July, according to the Office for National Statistics.

Persons: Stefan Wermuth, BoE, Michael McGill, Zoopla, Russell Quirk, Aneisha Beveridge, Jonathan Cable, Mumal Rathore, Rahul Trivedi, Purujit, Mark Potter Organizations: REUTERS, Bank of England, Office, National Statistics, Thomson Locations: London, Britain, Kensington, Mayfair, Barking, Dagenham

☆ UK home sales set to hit their lowest since 2012 as mortgage sales plummet
▼ + stars: | 2023-08-30 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

That's the equivalent of each household moving once every 23 years, an increase of six years from 2021, the monthly report found. Demand for homes in the last four weeks is down 34% compared to the average of the last five years, as higher mortgage rates and cost-of-living pressures weigh on the market, Zoopla said. While house prices have seen a small uptick, sales numbers have been hit hardest by higher borrowing costs, Richard Donnell, executive director at Zoopla said in a press release. "Cash buyers are more immune and on track to account for more than one in three sales in 2023," Donnell said. Mortgage rates have started to come down but remain high, with the average rate for a 2-year fixed mortgage for a 95% loan at 6.7% for the week of Aug. 21, online real estate company Rightmove said last week.

Persons: Zoopla, Richard Donnell, Donnell, Rightmove Organizations: Office, National Statistics, Bank of England

☆ Asking prices for UK homes drop sharply - Rightmove
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Toby Melville/File photo Acquire Licensing RightsLONDON, Aug 21 (Reuters) - Asking prices for homes in Britain fell sharply this month as rising mortgage costs caused sellers to lower their expectations of what they can get for their properties, an industry survey showed on Monday. Website Rightmove said average asking prices for homes dropped by 1.9%, the biggest monthly fall for August since 2018 and twice as steep as the usual summertime fall. Mortgage lenders Nationwide and Halifax both previously reported falls in selling prices in July. Rightmove's survey also showed the number of home sales was down 15% compared with 2019, before the pandemic. Average asking prices for homes were 2% below their peak in May but, reflecting the surge in demand during the pandemic, remained 19% higher than in August 2019, Rightmove said.

Persons: Toby Melville, Rightmove, William Schomberg, Suban Abdulla Organizations: REUTERS, Bank of England, Nationwide, Halifax, Homes, Thomson Locations: Bristol, Britain

☆ An outdoor balcony in London is on the market for $63,700, but the listing agent says it doesn't come with an apartment
▼ + stars: | 2023-08-01 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

A lone balcony in South Kensington, London, is on the market for $63,700. The listing agent told Insider that the property is a reflection of London's housing market. But an apartment isn't included in that price, the property's listing agent told Insider. Jacobs told Insider that the agency has received around 220 inquiries about the balcony since it was put on the market three weeks ago. Meanwhile, the average London property increased by 0.8% from £521,561, or around $664,990, in May 2022 to £525,629, or around $670,176, in May 2023, the report added.

Persons: Glenn Jacobs, Jacobs, It's, Prince William, Kate Middleton's, Peter Dazeley, Robert Gardner Organizations: Service, Next, Evening, Google, Nationwide Building Society, Government Locations: South Kensington, London, Wall, Silicon, Stanhope, Next Lome, Harrods, Kensington

☆ Estate agent Foxtons says London renters keen on home purchases as rents soar
▼ + stars: | 2023-07-27 | by ( Ajose Koilparambil | ) www.reuters.com time to read: +2 min

Foxtons CEO Guy Gittins told Reuters that there is an extreme imbalance between supply and demand in the rental market, driving up prices. The number of lettings applicants registering with the company has surged 172% currently compared to pre-pandemic 2019. Foxtons said it expects the wider home sales market to remain challenging as high mortgage costs and tight credit conditions make home purchases less affordable. The company posted a 10% jump in half-year adjusted operating profit at 6.8 million pounds ($8.8 million), mainly on strength of its prime lettings business. The group's revenue from continuing operations grew 9% to about 71 million pounds, while revenue from the lettings division jumped 26%.

Persons: Guy Gittins, Gittins, Foxtons, Aby Jose Koilparambil, Eileen Soreng Organizations: HY, Reuters, Thomson Locations: London's, London, Bengaluru

☆ UK rents climb a third above pre-COVID levels as tenant demand remains firm
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

Advertised rents are 9.3% higher than a year ago and 33% more than in 2019, before the COVID-19 pandemic. Tim Bannister, Rightmove's director of property science, said the big increase in rents since the pandemic reflected a significant surge in demand from tenants and contrasted with stagnant rents from 2015 to 2019. Rightmove said there were 7% more properties available for rent than a year ago, but 42% fewer than in 2019. Rightmove said 16% of properties for sale were previously on the rental market, up from 13% in January 2019. Tenant demand was 3% higher than in the same period in 2022 and 42% higher than 2019, Rightmove added.

Persons: Rightmove, Tim Bannister, Suban Abdulla, David Milliken Organizations: Thomson Locations: Britain, London

☆ I'm a first-time property investor who grew my portfolio to $5.5 million in 3 years. Here's how I did it with minimal savings.
▼ + stars: | 2023-07-17 | by ( Salina Jivani | ) www.businessinsider.com time to read: +8 min

He now has a portfolio worth $5.5 million that generates tens of thousands in rent a month. The course gave me the confidence and knowledge to eventually build a real-estate portfolio worth £4.2 million, or about $5.5 million, in three years. For example, if the equity on the property I was completing was £50,000 short of what I needed to purchase the next property, I'd reach out to my network and crowdsource it. My current portfolio's valuation is nearly £4.2 million, with £1.2 million of that comprising my equity and the rest belonging to the bank. Because of the desirable locations, generally when one tenant moves out of a property another moves in within a week.

Persons: Alfred Dzadey, I'd Organizations: Service, Jaguar, Rover, Investors Locations: Wall, Silicon, Coventry , England, Coventry , West Midlands, Coventry

☆ Asking prices for UK homes slip as Bank of England's rates rises bite, survey shows
▼ + stars: | 2023-07-16 | by ( ) www.reuters.com time to read: +2 min

Property website Rightmove said average asking prices of homes coming onto the market declined by 0.2% last month, compared with the 0% norm for this time of the year. Tim Bannister, director of property science at Rightmove, said stubborn inflation and further mortgage rate rises contributed to the fall in prices and number of agreed sales. "The interest-rate brakes being applied more strongly to slow the economy are now beginning to bite in the housing market," Bannister said. The central bank increased its Bank Rate by more than expected to 5% in June, pushing up the cost of mortgage borrowing. Average two-year fixed mortgage rates reached a 15-year high last week.

Persons: Rightmove, Tim Bannister, Bannister, Suban Abdulla Organizations: ., Nationwide, Halifax, Bank of England, Thomson Locations: Britain

☆ Surging mortgage rates bring early summer slowdown for UK housing market: Rightmove
▼ + stars: | 2023-06-18 | by ( Suban Abdulla | ) www.reuters.com time to read: +3 min

Average asking prices over the previous decade for this time of the year had increased by 0.6% on average, the survey showed. Nationwide, Halifax and HSBC were some of the major lenders that have announced a shake-up in their mortgage rates. British homebuyers typically take out mortgages with an interest rate that is fixed for two or five years, and then remortgage on to a new fixed rate or accept a floating rate. While Britain's housing market activity recovered in early 2023 from the autumn turmoil triggered by the economic agenda of former prime minister Liz Truss, analysts are waiting to see how much interest rates rises will hurt the sector. Bannister said the increases in interest rates and monthly mortgage payments could prompt prospective buyers to pause.

Persons: Rightmove, Tim Bannister, BoE, we've, Bannister, remortgage, Liz Truss, Suban Abdulla, David Milliken Organizations: Bank of, ., Nationwide, HSBC, Bank of England, British, Thomson Locations: Bank of England, British, Halifax

☆ Major UK lender Halifax pushes up mortgage rates
▼ + stars: | 2023-06-06 | by ( Andy Bruce | ) www.reuters.com time to read: +1 min

LONDON, June 6 (Reuters) - Britain's largest mortgage provider Halifax will ramp up interest rates for new home loans on Wednesday, according to pricing provided to brokers, the latest major lender to do so in response to soaring funding costs. The decision by Halifax, part of Lloyds Banking Group (LLOY.L), comes after rivals like Nationwide Building Society announced hefty increases to mortgage rates. Two-year deals rather than five-year deals are currently popular among borrowers who hope that rates will fall again soon. "This latest increase by the biggest mortgage lender in the UK will spook buyers and sellers alike not to mention those due to re-mortgage in the next few months," Lewis Shaw from broker Shaw Financial Services said. Property website Rightmove said on Tuesday this was the first week since January that rates have averaged 5% or more across all LTV brackets.

Persons: Liz Truss, Lewis Shaw, Rightmove, Andy Bruce, Lisa Shumaker Organizations: Bank of England, Halifax, Lloyds Banking Group, Nationwide Building Society, Shaw Financial Services, Thomson Locations: Halifax

☆ FTSE 100 edges higher as NatWest, StanChart shares rise
▼ + stars: | 2023-05-22 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies Domestic house prices rise in MayUK lowers stake in NatWest, shares climbDechra Pharma down after profit warningUS debt ceiling talks to resume after impasseFTSE 100 0.3%, FTSE 250 flatMay 22 (Reuters) - UK's blue-chip index edged higher on Monday, with NatWest shares rising after it agreed to buy 1.3 billion pounds ($1.6 billion) worth of its shares back from the government, although lingering uncertainty over the U.S. debt ceiling impasse weighed on overall mood. The FTSE 100 (.FTSE) rose 0.3%, with bank stocks in the lead. Standard Chartered (STAN.L) rose 2.4% after Bank of America upgraded the stock to "buy" from "neutral". UK-listed stocks have traded in tight bands since late April as investors digested mixed corporate earnings, weakening outlook for commodity-linked stocks and standoff over the U.S. debt ceiling deal. ($1 = 0.7923 pounds)Reporting by Johann M Cherian in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Confidence returning to UK housing market as asking prices jump: Rightmove
▼ + stars: | 2023-05-21 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

"One reason for this increased confidence may be that the gloomy start-of-the-year predictions for the market are looking increasingly unlikely," Tim Bannister, director of property science at Rightmove, said. Earlier this year, British house prices were forecast by sector analysts to fall by as much as 15% by mid-2024. Rightmove said mortgage rates had been stable on a week-to-week basis. Mortgage lender Halifax said earlier this month that property prices grew at the slowest annual pace in over 10 years in April. But rival Nationwide said prices rose by a monthly 0.5% in April after falling for the seven previous months.

SummarySummary Companies Britain's house prices show weak rise in AprilBunelm gains on Stifel upgradeMedica Group surges on buyout dealFTSE 100 down 0.2%, FTSE 250 adds 0.2%April 24 (Reuters) - London's FTSE 100 fell on Monday as energy stocks and base metal miners lost ground on weak demand outlook, while caution set in ahead of a busy week of earnings. Oil giants BP (BP.L) and Shell (SHEL.L) lost 0.9% and 1.2%, respectively, as crude prices fell more than 1% on concerns about rising interest rates, global economic slowdown and fuel demand outlook. The FTSE 100 (.FTSE) fell 0.2%, while the mid-cap FTSE 250 (.FTMC) was up 0.2%, as of 0821 GMT. Growth companies, including Microsoft Corp (MSFT.O), Google parent Alphabet Inc (GOOGL.O) and Amazon.com Inc (AMZN.O), are scheduled to report their earnings this week. The FTSE 100 logged its fifth consecutive weekly rise on Friday, marking its longest streak of weekly gains in more than a year, buoyed by commodity stocks, even as weak global economic growth outlook keeps investor sentiment subdued.

☆ UK house prices show weak rise in April, Rightmove says
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 24 (Reuters) - Asking prices for property being put on sale in Britain over the past month rose less than normal for the time of year, figures from property website Rightmove showed on Monday, adding to signs of more subdued momentum in the property market. Rightmove said that average asking prices were up by 0.2% over the month, less than the average 1.2% gain seen at this time of year. Compared with a year earlier, asking prices were 1.7% higher, down from a 3.0% annual increase a month earlier. Rightmove said transaction volumes were now back to around the level they were before the start of the pandemic. ($1 = 0.8045 pounds)Reporting by David Milliken, Editing by Kylie MacLellanOur Standards: The Thomson Reuters Trust Principles.

☆ UK house sales at pre-COVID levels after 'mini-budget' shock - Rightmove
▼ + stars: | 2023-04-11 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

Property website Rightmove (RMV.L) said the number of sales agreed between sellers and buyers was just 1% lower last month than in March 2019 as borrowing costs edged down from their leap after the September 'mini-budget'. However, while the total number of agreed sales had improved from being 21% below 2019 levels as recently as January, they remained down 18% when compared with March 2022. Real estate agents noted a "significant upswing" in buyer demand for apartments of all sizes, with agreed sales rising 10% from 2019, up from a fall of 11% at the start of 2023. London saw the most pronounced recovery in the broader market, with overall agreed sales increasing 11% compared to March 2019, and agreed sales of apartments 23% higher. Rightmove said a third of properties were reduced from their original asking price, up from 19% last year although in line with pre-pandemic levels.

☆ UK house prices rise for 3rd month in a row, Halifax says
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 6 (Reuters) - British house prices rose for a third month in a row in March, representing a further calming of the market after the turmoil sparked by former Prime Minister Liz Truss's "mini-budget" last September, data from mortgage lender Halifax showed. House prices rose by 0.8% in month-on-month terms, Halifax said on Thursday, the second-strongest gain since June last year after February's 1.2% increase. A Reuters poll of economists had pointed to a 0.3% drop on the month. House prices were 1.6% higher than a year ago. But other indicators, such as the BoE's mortgage approvals data and a measure of asking prices compiled by property company Rightmove, have suggested the market has become more stable in recent months.

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