UK house prices drop - Market Insight 21st August 2023

August 21, 2023
UK house prices drop - Market Insight 21st August 2023

Rightmove released its housing price index earlier this morning showing an annual contraction of -0.1% in prices. Month on month prices dropped by -1.9%.

In other news the Peoples Bank of China (PBoC) dropped it's interest rate by 10 points (0.1%) to 3.45% as China struggles to recover from Covid and the weight of a housing crisis. For the latter the Chinese property company Evergrande filed for bankruptcy in the US.

There isn't any major news scheduled for today until breakfast time tomorrow when the UK releases its public sector net borrowing figure for July.

Business news is relatively light today also with not much happening to move the markets. GBP/EUR and GBP/USD remain in a sideways pattern for now.

Get your free quote now

Economic calendar

UK: Tuesday 07:00 Public Sector Net Borrowing

As ever we look forward to keeping you in the loop and look out for our next update.
‍
Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.
‍
Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.

All rights reserved. *Third party fees may apply.

Payment services are provided by Equals Connect Limited, registered in England & Wales No. 07131446. Registered Office: 3rd Floor, Vintners' Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited is authorised and regulated by the Financial Conduct Authority to provide payment services (FCA No. 671508).

For clients based in the European Economic Area, payment services for RegencyFX Ltd are provided by CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 - 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of an electronic-money institution (Relation Number: R142701).

For clients based in the United States, payment services for RegencyFX Ltd are provided by The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorised in 39 states to transmit money (MSB Registration Number: 31000206794359). Registered Office: 104 5th Avenue, 20th Floor, New York, NY 10011.

For clients based in the United Kingdom and rest of the world, payment services for RegencyFX Ltd are provided by The Currency Cloud Limited. Registered in England and Wales No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).

Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB). License No: XCML00000151326.

Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution. Firm Reference Number: 927951. , and All testimonials, reviews, opinions or case studies presented on our website may not be indicative of all customers. Results may vary and customers agree to proceed at their own risk.

Market insights