Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether her Department has a policy on targeting levels of house price inflation.

The government does not set a target for house price inflation.

The UK has a 2% inflation target, measured by the 12 month increase in the Consumer Prices Index (CPI). CPI is a broad measure of consumer prices based on a representative basket of goods and services. The independent Monetary Policy Committee of the Bank of England is responsible for setting monetary policy to meet this target in line with international best practice.