U.K. Nationwide House Price Index (YoY) For November -2% Vs. -2.3% Est.; -3.3% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Nationwide House Price Index reported a year-on-year decrease of 2% for November, which is a smaller decline than the estimated 2.3% and the previous 3.3%. This suggests a less severe contraction in U.K. house prices than anticipated.
December 01, 2023 | 7:03 am
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The iShares MSCI United Kingdom ETF (EWU), which may include holdings in the U.K. housing sector, could see a neutral to slightly positive impact as the house price decline is less than expected, indicating a potentially more stable U.K. housing market.
While the Nationwide House Price Index is a direct indicator of the health of the U.K. housing market, EWU is an ETF that tracks the overall U.K. market, not just housing. The less severe decline in house prices may be seen as a positive sign for the economy, which could support investor sentiment towards EWU. However, the impact may be muted as the ETF is diversified across various sectors, and housing is just one component.
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