Housebuilding shows signs of recovery in December
- Britain’s housing market showed signs of recovering in December, as agreed home sales rose for the first time since May and expectations of future sales jumped after the election.
- The gauge from the Royal Institution of Chartered Surveyors – which shows the difference between its members reporting price rises and falls – picked up to -2 in December from -11 a month earlier, beating the forecasts of City economists.
- Growth in UK house prices has eased since the Brexit vote, with prices falling on an annual basis in London and some surrounding areas.
- Prices have continued to rise in the Midlands and the north of England. Separate figures showed the number of mortgages approved by high street banks jumped to the highest level for almost five years in December.