UK capital formation in dwellings
UK capital formation in dwellings stood at £28,250m in Q2 2026, according to Office for National Statistics (ONS). It is one of the indicators in the Quarterly GDP table (Value · Quarterly), with a complete series running from Q1 1997 to Q2 2026. The complete series with an interactive chart, free to download.
This indicator in the Quarterly GDP table
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross fixed capital formation, total | 144,517 | 143,172 | 140,695 | 141,171 | 140,106 | 139,557 | 135,919 | 136,163 | 131,548 | 131,413 | |
| Capital formation in dwellings | 28,250 | 27,616 | 27,124 | 28,268 | 28,030 | 27,470 | 28,381 | 28,193 | 27,211 | 27,588 | |
| Capital formation in plant and machinery | 23,547 | 22,827 | 22,497 | 23,596 | 21,446 | 22,009 | 20,129 | 20,469 | 18,742 | 18,824 |
Understanding UK capital formation in dwellings
Expenditure directed toward the creation, substantial refurbishment, and purchase of residential accommodation across the United Kingdom is tracked in this series in £m. It encompasses new residential house building by private developers, housing associations, and local councils, major structural home extensions, and transfer costs associated with property exchanges. It excludes day-to-day decorative property maintenance and sits alongside commercial plant, machinery, and intangible rows as a distinctive subsector of fixed capital.
Seasonally adjusted figures smooth out regular building disruptions during winter quarters and predictable seasonal spikes in property market activity. Construction output surveys and building control notifications feed preliminary estimates, making the series susceptible to revisions as project completion registers arrive. Users must not confuse this flow of new physical residential capital with movements in house price indices or mortgage debt volumes, as it tracks the value of work completed rather than transaction prices of the existing housing stock.
Frequently asked questions
- Are estate agent fees and stamp duty included in this series?
- Yes, transfer costs of ownership, including professional fees and stamp duty on residential property, are treated as fixed capital formation in dwellings.
- Does regular household painting and decorating count towards this figure?
- No, routine maintenance is classified as intermediate consumption or household spending; only major structural alterations that extend property life are included.
- Who is counted as an investor in residential dwellings?
- Investment in dwellings spans private households, corporate landlords, housing associations, and municipal authorities constructing social housing.