House prices down in February

28 July, 2011


More bad news for the UK economy today as Nationwide announced a 1.8% drop in February house prices.

House prices need to stabilise in order for confidence to return to the UK economy – and the Pound is likely to remain low until that happens, says Chuck Hall, senior analyst at UK-based Currency Index Ltd.

“The low Pound is helping international investment into the UK, with sending money to the UK now around its cheapest for many years”, says Hall.

However, for those of you wanting the best exchange rates to send money to Germany or the Eurozone, or needing to buy US dollars at the best rates, things are still looking gloomy.