Market insights

UK House Prices Rise Sharply

Rightmove, the online portal for property sales and rentals, released its house price report this morning.

Annual growth came in at 1.7%. However it was the monthly growth of 1.1% which was unexpected.

This has led to reports in the press that the housing market continues to run further away from first time buyers as wage growth is much slower than property price growth.

The Pound took a bit of a drubbing at the end of last week against both the Dollar and the Euro.

Rhetoric from the US indicates a rate cut isn't imminent, whereas a press conference with a Bank of England member on Friday pushed Pound rates even further down.

There's a further press conference from the President of the ECB, Christine Lagarde, later this afternoon before the UK's public sector net borrowing position at breakfast tomorrow.

Business news looks at the ongoing plight at Tesla as the car firm cuts prices yet again in some key countries such as the US. It's understood the fierce competition from Chinese rivals is driving the decision.

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Economic calendar

EUR: 16:30 ECB's Christine Lagarde Speech

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.

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