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Conveyancing Data From RICS Shoves Sterling Below $1.50

Just shows what an impact the UK housing market has… the Royal Institute for Chartered Surveyers (RICS) reported a dip in house prices last month and shortly after Sterling dipped below $1.50. The RICS data, gathered from conveyancing specialists, showed a drop to +17% in February from a +31% in January based on year-on-year figures.

February’s housing market prices decline is the most severe one-month fall since way back in April 2008 and as a side effect Sterling fell 0.4% to a 10-month low of $1.4781. Not good for anyone hoping the economy was back on track or if you’re looking to go on holiday and need some foreign exchange.

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This entry was posted on Monday, March 8th, 2010 at 8:28 am and is filed under conveyancing. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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