Housing Market - Commons Library Standard Note

Published 05 February 2015 | Standard notes SN02820

Authors: Matthew Keep

Topic: Economic situation, Housing

House prices on the Nationwide index have slowed in recent months; in January 2015 prices increased by 0.3%.

House prices have been rising faster according to the Halifax index; prices grew by 2% in January 2015, making prices around 10% higher than in January 2014.

There were 60,275 mortgage approvals in December 2014, up slightly on the 58,956 recorded in November. Approvals had fallen in the previous five months.

There were 33,000 house building starts in England in Q3 2014, down 10% on Q2 2014. There were 31,130 dwelling completions in Q3 2014, up 5% from Q2 2014. Both starts and completions remain below their recent peaks of 2007.

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