Housing market: Data on house prices, mortgage approvals and house-building.Jump to full report >>
Mortgage approvals in June 2016 were down 2.9% on the previous month and 4.6% down on a year ago. Approvals remain well down on pre-recession levels.
Housing starts decreased by 3% in Q1 2016 compared to Q4 2015. Housing starts and completions have increased from the lows observed in late 2008 and early 2009 but remain below pre-recession levels.
On a seasonally adjusted basis, average house prices in the UK increased by 0.7% between May 2016 and June 2016.
There are regional differences in house prices. The average price is highest in London at roughly £472,000. The lowest prices are found in Northern Ireland and the North East at £123,000 and £124,000 respectively.
Bank of England data on the number of mortgages approved to finance house purchases are a leading indicator of house sales.
There were 64,766 mortgage approvals in June 2016, down 2.9% on the previous month and 4.6% compared to June 2015.
There were 35,530 seasonally adjusted house building starts in England in Q1 2016, a 3% decrease on the previous quarter, and 9% down on the same quarter of 2015. This is above the recent low of 17,150 in Q1 2009, but still below the 48,970 starts in Q1 2007.
There were 32,950 seasonally adjusted dwelling completions in Q4 2015, down 9% on the previous quarter, and 3% lower than during the same quarter of 2015. Completions remain below the peak of 48,440 completions in Q1 2007.