The House of Commons has just published its regular report data regarding key indicators in the PRS.

It can be seen here, and says:

House prices, as measured by the UK House Price Index, increased by 9.8% between December 2021 and December 2022. On a seasonally adjusted basis, average house prices decreased by 0.2% between November and December 2022.

House prices grew at different rates across the UK’s countries and regions over the year to December 2022. House prices grew fastest in the East Midlands, North West and Yorkshire and the Humber. House price growth was slowest in Scotland, London and the South West.

Bank of England data on the number of mortgages approved to finance house purchases are a leading indicator of house sales.

Mortgage approvals for house purchases reached a lockdown-related record low in May 2020. Approvals then increased significantly towards the end of 2020 but have fallen since. Mortgage approvals for house purchases in December 2022 were down 50.7% on a year ago and down 22.9% on November 2022.

There were 35,612 mortgage approvals in December 2022, compared with 72,181 in December 2021. If the onset of the Covid-19 pandemic and period immediately thereafter is excluded, house purchase approvals are at the lowest level since January 2009 (32,400).

Housing starts and completions fell sharply in Q2 2020 reflecting the coronavirus lockdown. They are now higher.

There were 42,430 house building starts (seasonally adjusted) in England in Q3 2022, a 19% decrease compared with the previous quarter, and a 2% decrease compared with the same quarter of 2021.

There were 42,950 house building completions (seasonally adjusted) in England in Q3 2022, a 4% decrease compared with the previous quarter, but broadly similar to the same quarter of 2021.