Housing: Prices

Treasury written question – answered on 9th September 2019.

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Photo of Paul Williams Paul Williams Labour, Stockton South

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential effect on house prices on Teesside of the UK leaving the EU without a withdrawal agreement.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The Office for National Statistics (ONS) publishes monthly data on house prices by region. We have been very clear that we are focused on getting a deal, and hope that the EU will agree to negotiate changes to the withdrawal agreement. The fundamentals of the British economy are strong – wages are growing, employment is at a record high and the unemployment rate is at a historic low. Furthermore, we will continue to closely monitor any developments in economic risks to firms, sectors, and regions.

The Government and the Bank of England have the policy tools available, and are ready to deliver the necessary response to a No Deal exit.

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