The struggling UK sales market has propelled the nation ten places down the global house price index list, Knight Frank has revealed, and has been overtaken by a list of countries unknown previously for their perky housing markets.
The pound rose to its highest rate against the euro since November 2007 on Thursday, climbing to €1.4350 at one point.
The euro fell against both the pound and the dollar as markets assessed potential interest rate moves over the next few months.
The European Central Bank is expected to maintain its loose monetary policy for some time to come.
However, markets are now waiting for rate rises in the UK and US.
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