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Halifax U.K. HPI declines unexpectedly in April

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Forex Pros - British house prices fell unexpectedly in April, industry data showed on Monday.

In a report, the Halifax Bank of Scotland said its House Price Index dropped by -1.4% in April, after posting a flat reading in March, whose figure was revised down from 0.1%.

Economists expected the index to rise by 0.2% in April.

Prices in the three months to April were 1.2% lower than in the previous three months, according to the data.

Commenting on the report, Halifax housing economist Martin Ellis said, "Weak confidence amongst households, partly due to uncertainty over the economic outlook, is constraining housing demand and resulting in some downward movement in prices."

Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD climbing 0.22% to hit 1.6403.

Meanwhile, European stock markets were down after the open. The FTSE 100 shed 0.4%, the EURO STOXX 50 dropped 0.8%, France's CAC 40 slid 0.65%, while Germany's DAX declined 0.6%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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