Annual house price growth has slumped to 1.7 per cent in January 2019 – the lowest rate since 2013. The latest House Price Index from the Office for National Statistics showed the average UK house price was £228,000 in January 2019, an increase of 1.7 per cent over the year, but down from the 2.2 per cent annual growth in December 2018.
Some good numbers for a change. More people were employed today since records began in 1971. The unemployment rate also dropped to a low of 3.9% for the first time since the dark days of the 1970’s.
As the government is busy at the moment the Chancellor did not introduce many initiatives. The key changes were:
- There is a new capital allowance for new non-residential structures and buildings.
- The apprenticeship levy would be halved to 5% from 10%
- Don’t forget making tax digital for VAT returns comes into force on the 1st April 2019.