European stocks fall as investors focus on euro zone data, U.S. inflation risks

📆 2023-09-07 12:49:00
📰 NBCPhiladelphia

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Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

European markets opened lower Thursday with investors looking ahead to data releases including euro zone revised second quarter GDP figures.

House prices were 4.6% lower year-on-year, the biggest drop since 2009, largely due to the record high property prices seen in summer 2022 — though the average price is still £40,000 above its pre-pandemic level.

"It's fair to say that house prices have proven more resilient than expected so far this year, despite higher interest rates weighing on buyer demand," said Kim Kinnaird, director at Halifax Mortgages. "However, there is always a lag-effect where rate increases are concerned, and we may now be seeing a greater impact from higher mortgage costs flowing through to house prices."

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