Strong summer for house prices
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House price inflation accelerated in July to 14.3 percent year-on-year, from 13.9 percent in June, official data shows, showing the property market still had plenty of momentum this summer.
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Better than expected June figures for same-store sales, following a strong May, excite investors.
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WASHINGTON -- The economy headed into the summer with strong momentum, propelled by a manufacturing rebound and consumers who eagerly went shopping and sightseeing despite high gas prices.
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Strong demand for gasoline and tight motor fuel inventories will push pump prices higher in July and August, the government said on Tuesday.
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Demand for larger properties pushed house prices up by 2.1% in July, official government figures show.
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Business & money: House prices in England and Wales increased by 9.1% in the year to April, one of the highest annual rises in two years.
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UK house prices are still rising strongly despite recent interest rate rises, the Halifax says.
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Sales of new homes rose unexpectedly in April to the fastest pace this year as the housing sector showed resilience in the face of rising mortgage rates. But the price of homes sold last month fell and the level of unsold homes rose to a record high.
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British house price inflation remained in double-digits in June and prices in the service sector accelerated, according to two separate surveys on Wednesday that reinforced expectations interest rates would go up this week.
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Business & money: Annual house price inflation reached its highest rate in more than two years in July.
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Housing construction in August jumped to its highest level in five months, a dose of encouraging news for the economy's expansion.
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The buy-to-let property market is still booming, despite higher interest rates,a report says.
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The economy headed into the summer with better momentum, propelled by a manufacturing rebound and consumers who eagerly went shopping and sightseeing despite high gas prices.
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The number of homes put up for sale surged in May as sellers tried to beat the launch of HIPs.
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Sales of new homes rose by 9.4 percent in August, the Commerce Department said Monday, as mortgage interest rates remained at low enough levels to continue enticing buyers worried about future rate hikes.
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New-home sales showed signs of buckling under the weight of higher interest rates, and orders for durable goods rose more than expected in July, two government reports showed Wednesday.
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The average house price in the UK has almost reached Â£200,000, according to the latest survey from the Halifax.