Tuesday, November 03, 2009
Halifax up, construction down
Posted by David Smith at 03:00 PM
Category: Thoughts and responses

The Halifax has taken to publishing its house price index when you least expect it. Today's lunchtime release showed that prices rose by 1.2% in October, their fourth consecutive monthly rise. They are up by 2.9% since the end of 2008 and by 7.1% from the April lows, putting them on course for a 2009 rise. Prices are still marginally lower than a year ago (1.5% on a strict 12-month basis) but the gap is closing. All the usual caveats about limited supply apply. More here.

News on the construction industry was not so good, its purchasing managers' index dropping from 46.7 to 46.2, further below the 50 level consistent with expansion. This was in contrast to Monday's manufacturing PMI, which rose from 49.9 to 53.7.