Housing cost numbers came out much worse than expected at -32% for the month of August for the UK. The market expected to see only -12%.
Take Away Point:This data is a gauge for the cost of homes in the UK. The number is based on surveyors' opinions on the current real estate environment. A rise in the price of houses generally would indicate a strong housing market for the UK and a UK strong economy. Today we obviously saw the opposite of that.