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76261

registered interest
date	08/07/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Housing: Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment has been made of the effect on the Scottish economy of house prices in Scotland.
tabling member constituency	Kilmarnock and Loudoun
tabling member printed	Cathy Jamieson
uin	204501
answer	answer is ministerial correction date of answer 16/07/2014 answer text <p>Scotland's economy has performed well within the UK and the Scottish housing market is recovering alongside the rest of the UK's housing market. As in previous recoveries house prices have risen but still remain below their pre-crisis peak in real terms in Scotland. As a result of increased confidence in the housing market, property transactions in Scotland were 21 per cent higher in 2013 than the lows seen in 2011. With the creation of the Financial Policy Committee, we now have the tools to guard against risks in the housing market.</p> answering member constituency Inverness, Nairn, Badenoch and Strathspey answering member printed Danny Alexander question first answered 16/07/2014 14:44:11 answering member 1535 label Biography information for Danny Alexander
tabling member	4011 label Biography information for Cathy Jamieson

76268

registered interest
date	08/07/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Housing: Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the reasons for the differences in the level of change in house prices in Scotland compared to the rest of the UK in the second quarter of 2014.
tabling member constituency	Kilmarnock and Loudoun
tabling member printed	Cathy Jamieson
uin	204544
answer	answer is ministerial correction date of answer 16/07/2014 answer text <p>The Scottish housing market is recovering alongside the rest of the Scottish economy. Changes in regional house prices will partly depend on regional factors supporting supply and demand. House prices in Scotland rose 4.8 per cent in the 12 months to April. In the same period, house prices across the UK rose by 9.9 per cent, and excluding London house prices in the UK rose 7 per cent. In real terms house prices remain well below their peak, and the Office for Budget Responsibility noted in March that they will still remain below this peak at the end of their forecast in 2018/19. With the creation of the Financial Policy Committee, we can ensure emerging risks and vulnerabilities across the financial system as a whole are identified, monitored and effectively addressed.</p> answering member constituency Inverness, Nairn, Badenoch and Strathspey answering member printed Danny Alexander question first answered 16/07/2014 14:46:18 answering member 1535 label Biography information for Danny Alexander previous answer version 10179 answering member constituency Inverness, Nairn, Badenoch and Strathspey answering member printed Danny Alexander answering member 1535 label Biography information for Danny Alexander
tabling member	4011 label Biography information for Cathy Jamieson