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House price growth is now gradually gaining some momentum. In contrast to our earlier view of a flat housing market in 2013, we now expect some improvement in activity and muted rise in house prices in the year as the government’s Funding for Lending and Help to Buy schemes begin to have an impact on the market.
The latest labour market data from the Office for National Statistics (ONS) show that the shine is finally coming off the UK labour market in line with our expectations.
A snapshot of key official and Experian regional data released this month.
Office for National Statistics data show that the UK labour market remained on an upward trajectory in the three months to December 2012.
The recent momentum in labour market trends is rapidly easing in line with our expectations. While today’s labour market release still shows a rise in employment in the three months to October, the magnitude of this increase (of 40,000) is disappointing compared to earlier rises of 100,000 and 212,000 seen in the three months to September and August, respectively.