This morning news from Halifax has shown UK house prices have risen 0.6% in January, however compared to the same time last year property prices are down 1.8%. In a statement from Halifax they said “if the UK can avoid a prolonged recession we expect broad stability in house prices in 2012”. As people in the UK have so much money tied up in the housing market any movement in property prices whether positive or negative can have a big impact on the overall economy. So, the news this morning could lead to Sterling weakness however later on today we are expecting more news from Greece.
Later today party leaders from Greece’s coalition government are due to resume talks on completing a €130 billion EU rescue plan. The talks stalled again on Sunday as the Greek PM aims to get support for tough reforms as part of the condition of the bailout but with Greece needing the money by mid March should these reforms bee seen as too strict and are unsuccessful then the country run the risk of a possible default. Also today both the French and German leaders are due to hold further talks, so anyone looking for highly competitive exchange rates for buying Euros will want to stay in close contact with us today so we can keep you informed of any developments. Call us on 0800 328 5884 or email firstname.lastname@example.org.