The Right Move

Data from Rightmove for the month of June shows the first drop in housing pricing during this month since 2009, and the first monthly drop this year. In some markets of course (notably London), this fall has been more persistent, but it is the aggregate figure that feeds into UK inflation numbers. The prospect of inflation and rate rises weighs heavy on domestic purchasers, but perhaps more significant is the question of the longer term trajectory of the market, which in some quarters is driven by the weight of international money coming into the market, rather than domestic monetary policy.