§ Mr. Freesonasked the Secretary of State for the Environment what was the annual rate of inflation for housing prices (a) nationally and (b) in London and the south-east region for 1985-86; what is the rate for April to October 1986; and what is the expected rate for 1986–87.
§ Mr. TraceyFollowing are the available estimates:
House price increases 1984–85 to 1985–86 1st half 1985 to 1st half 1986 Per cent. Per cent. United Kingdom 9 13 London 15 21 Rest of South East 11 14 Source:
Sample survey of building society mortgages completed for house purchase:indices adjusted to allow for changes in the mix of dwellings purchased and excluding sales to sitting tenants.
The sample of mortgages is too small to provide reliable quarterly regional indices, but nationally prices rose by 13 per cent. between the second quarters of 1985 and 1986.