Economic indicators are quick-read summaries of the latest data focusing on different
aspects of the UK economy. The full suite of indicators can be found on the main Economic
Indicators page.
House prices, as measured by the UK House Price Index, increased by 5.4% between February
2024 and February 2025. On a seasonally adjusted basis, average house prices increased
by 0.5% between January and February 2025.
House prices changed at different rates across the UK’s countries and regions over
the year to February 2025. House prices grew fastest in Northern Ireland, the North
West and North East. Northern Ireland’s house prices are measured over a different
period (the year to Q4 of 2024). House prices grew slowest in London, the South West
and Wales.
source: UK House Price Index: data downloads February 2025, index seasonally adjusted
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 are now lower.
Mortgage approvals for house purchases in March 2025 were up 4% on a year ago but
down 1% on February 2025.
There were 64,309 mortgage approvals in March 2025, compared with 61,566 in March
2024.
source: Bank of England. Series LPMVTVX
Housing starts and completions fell sharply during the Covid-19 lockdown but recovered
since.
There were 36,830 house building completions (seasonally adjusted) in England in Q4
2024, a 2% increase compared with Q3 2024, but a 9% decrease compared with Q4 2023.
There were 30,860 house building starts (seasonally adjusted) in Q4 2024, a 7% increase
compared with Q3 2024, and a 52% increase compared with Q4 2023. There was a peak
of 68,09 starts in Q2 2023, largely due to house builders bringing forward the start
of work to avoid new building regulatory standards. This lowered starts in subsequent
quarters. The new standards relate to energy performance and electric vehicle charging
points and were introduced from 15 June 2023.
source: MHCLG. Table 222: permanent dwellings started and completed, by tenure, England
(quarterly seasonally adjusted)
Next updates
This page is updated when new data is published. The next source updates will be:
UK house price index (HM Land Registry), 21 May 2025 Money and credit (Bank of England), 2
June 2025 House-building (Ministry of Housing, Communities and Local Government),
June 2025
category snapshot
Economic indicators
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description
Find the latest data on house prices, mortgage approvals, and house building in the
UK.
disclaimer
<p>This information is provided to Members of Parliament in support of their
parliamentary duties and is not intended to address the specific circumstances of
any particular individual. It should not be relied upon as being up to date; the law
or policies may have changes since it was last updated; and it should not be relied
upon as legal or professional advice or as a substitute for it. A suitably qualified
professional should be consulted if specific advice or information is required.</p>
<p>This information is provided subject to our general terms and conditions
which are available online or may be provided on request in hard copy. Authors are
available to discuss the content of this briefing with Members and their staff, but
not with the general public.</p>
htmlsummary
<p><strong>Economic indicators are quick-read summaries of the latest
data focusing on different aspects of the UK economy. The full suite of indicators
can be found on the main </strong><a href="https://commonslibrary.parliament.uk/data-tools-and-resources/economic-data/economic-indicators/"><strong>Economic
Indicators page</strong></a><strong>.</strong></p>
<p><strong>House prices</strong>, as measured by the UK House Price
Index, increased by 5.4% between February 2024 and February 2025. On a seasonally
adjusted basis, average house prices increased by 0.5% between January and February
2025.</p>
<p>House prices changed at different rates across the UK&rsquo;s countries
and regions over the year to February 2025. House prices grew fastest in Northern
Ireland, the North West and North East. Northern Ireland&rsquo;s house prices
are measured over a different period (the year to Q4 of 2024). House prices grew slowest
in London, the South West and Wales.</p>
<p><img title="Chart showing UK house price index showing monthly percentage
change from 2007 to 2024. Since the start of 2024, house prices have increased in
most months." src="http://researchbriefings.files.parliament.uk/documents/SN02820/assets/dcd6e33a-896a-4f29-82f1-249ff1e5fd37.png"
alt="Chart showing UK house price index showing monthly percentage change from 2007
to 2024. Since the start of 2024, house prices have increased in most months." width="460"
height="230"></p>
<p>source:&nbsp;<a href="https://www.gov.uk/government/statistical-data-sets/uk-house-price-index-data-downloads-february-2025?utm_medium=GOV.UK&amp;utm_source=summary&amp;utm_campaign=UK_HPI_Summary&amp;utm_term=9.30_16_04_25&amp;utm_content=download_data">UK
House Price Index: data downloads&nbsp;February 2025</a>, index seasonally
adjusted</p>
<p>Bank of England data on the number of mortgages approved to finance house
purchases are a leading indicator of house sales.</p>
<p>Mortgage approvals for house purchases reached a lockdown-related record
low in May 2020. Approvals then increased significantly towards the end of 2020 but
are now lower.</p>
<p>Mortgage approvals for house purchases in March 2025 were up 4% on a year
ago but down 1% on February 2025.</p>
<p>There were 64,309 mortgage approvals in March 2025, compared with 61,566
in March 2024.</p>
<p><img title="Chart showing UK mortgage approvals since 2007. Trends discussed
in the article" src="http://researchbriefings.files.parliament.uk/documents/SN02820/assets/adedded8-e57e-4e6b-bf88-0c558c5d58a0.png"
alt="Chart showing UK mortgage approvals since 2007. Trends discussed in the article"
width="460" height="230"></p>
<p>source: Bank of England.&nbsp;<a href="https://www.bankofengland.co.uk/boeapps/database/fromshowcolumns.asp?Travel=NIxSCxSUx&amp;FromSeries=1&amp;ToSeries=50&amp;DAT=RNG&amp;FD=1&amp;FM=Jan&amp;FY=1963&amp;TD=14&amp;TM=Dec&amp;TY=2030&amp;VFD=Y&amp;CSVF=TT&amp;C=112&amp;Filter=N&amp;html.x=14&amp;html.y=18#%22">Series
LPMVTVX</a></p>
<p><strong>Housing starts and completions</strong>&nbsp;fell
sharply during the Covid-19 lockdown but recovered since.&nbsp;&nbsp;</p>
<p>There were 36,830 house building completions (seasonally adjusted) in England
in Q4 2024, a 2% increase compared with Q3 2024, but a 9% decrease compared with Q4
2023.</p>
<p>There were 30,860 house building starts (seasonally adjusted) in Q4 2024,
a 7% increase compared with Q3 2024, and a 52% increase compared with Q4 2023. There
was a peak of 68,09&nbsp;starts in Q2 2023, largely due to house builders bringing
forward the start of work to avoid <a href="https://www.gov.uk/government/publications/conservation-of-fuel-and-power-approved-document-l">new
building regulatory standards</a>. This lowered starts in subsequent quarters.
The new standards relate to energy performance and electric vehicle charging points
and were introduced from 15 June 2023.</p>
<p>&nbsp;<img title="Chart showing housing starts and completions in
England. Trends discussed in article" src="http://researchbriefings.files.parliament.uk/documents/SN02820/assets/25cff581-03ab-42b6-8440-ba7bfa6d0f08.png"
alt="Chart showing housing starts and completions in England. Trends discussed in
article" width="460" height="230"></p>
<p>source: MHCLG.&nbsp;<a href="https://www.gov.uk/government/statistical-data-sets/live-tables-on-house-building">Table
222: permanent dwellings started and completed, by tenure, England (quarterly seasonally
adjusted)</a></p>
<h2>Next updates</h2>
<p>This page is updated when new data is published. The next source updates
will be:</p>
<ul>
<li>
<p><a href="https://www.gov.uk/government/collections/uk-house-price-index-reports">UK
house price index</a>&nbsp;(HM Land Registry),&nbsp;21 May 2025</p>
</li>
<li>
<p><a href="https://www.bankofengland.co.uk/news/statistics">Money and
credit</a>&nbsp;(Bank of England),&nbsp;2 June 2025</p>
</li>
<li>
<p><a href="https://www.gov.uk/government/collections/house-building-statistics">House-building</a>&nbsp;(Ministry
of Housing, Communities and Local Government), June 2025</p>
</li>
</ul>
