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LSL Acad HPI 

In 2003, Acadata pioneered use of Land Registry (LR) data for a mainstream house price index, launched by the Financial Times as the FTHPI. In 2010 LSL Property Services plc assumed the preparation costs from Acadata, rebranding the index as the LSL Property Services/Acadata HPI; now LSL Acad E&W HPI, Your Move Acad Scotland HPI; also Acad Wales HPI launched 2011.

Using a 2002/3 purpose built “index of indices” forecasting methodology developed by Dr Stephen Satchell at the University of Cambridge and Dr George Christodoulakis, then at City University, Acadata resolved the problem that only c.38% of sales are promptly reported to LR; an insufficient sample to be definitive. For finality, our LSL Acad HPI “forecast” is updated monthly until every transaction is included. Effectively, an October LSL Acad E&W HPI “final” result, published with the December LSL Acad HPI “forecast” is definitive.

Is this untimely? Not compared with the highly reputed USA S&P Case-Shiller HPI for which e.g. the October 2012 was published on 26th December. Since this Case-Shiller index provided an average of the August, September and October results, the results were effectively centred on September, meaning a 3 month lag. An October LSL Acad HPI “final” is averaged over September, October and November, centred on October and published 11th January; a 2½ month lag. For serious users, we believe that only Land Registry and Registers of Scotland (RoS) provide the factual data requisite for definitive HPIs and that a delay before the results are final is a worthwhile price to pay.

Does our LSL Acad HPI “forecast” accurately anticipate the “final” results? How our “forecast” index is changed by additional transactions is shown in our monthly “Development of Forecasts” table. Is our “forecast” HPI the best guide to house price inflation? Our monthly Index Table shows the results of all major indices. Why is our LSL Acad E&W HPI average house price higher than that shown by the Land Registry HPI and the lenders? Our "Which House Price Index?" Briefing Note explains.

As FTHPI, our index was chosen by the Chicago Mercantile Exchange, the world's largest derivative exchange, for a possible residential house price derivative, put on hold by the 2007 financial crisis. LSL Acad E&W HPI is released for publication on the second Friday of every month. Our Your Move Acad Scotland HPI and Acad Wales HPI follow for downloading from our website. The downloadable documents below include our latest News Release and full historic data series.



FEBRUARY KEY LSL Acad E&W HPI STATISTICS
 
Index
268.2
Average House Price
£273,528
Monthly Change
0.5%
Annual Change
6.8%
 
MAIN POINTS
  • House prices £34,000 above pre-crisis high

  • At £273,528, home values now £34,192 higher than at height of the housing boom in February 2008

  • But over half of that value (£17,340) added in the past year, following annual rise of 6.8%

  • London buyers at top-end brace for General Election, but lower rungs of ladder keep moving

  • Completed home sales in the opening two months of 2015 down 9% compared to a year ago
 

JANUARY KEY YOUR MOVE Acad SCOTLAND HPI STATISTICS
 
Index
218.4
Average House Price
£166,771
Monthly Change
1.0%
Annual Change
4.5%
 
MAIN POINTS
  • Scottish house prices climb beyond housing boom highs

  • Average house prices rise £1,600 (1%) in a month, surpassing May 2008 peak in recovery milestone

  • Fife and West Lothian join the ranks of the record-breakers, setting new peak house prices in January

  • Dundee City experiences biggest price jump in January, with property values soaring 6.7% in a month

  • But completed home sales down 44% since December – double the typical seasonal downturn
 

JANUARY KEY Acad WALES HPI STATISTICS
 
Index
251.9
Average House Price
£162,385
Monthly Change
0.1%
Annual Change
3.7%
 
MAIN POINTS
  • £231 (or +0.1%) rise in January house prices

  • Annualised rate of change static for the last four months at +3.7%

  • Cardiff remains one of the areas in England & Wales with peak prices

  • January transactions -31% lower than December
 

AVAILABLE HERE

LSL Acad E&W HPI February 15 published 13th March 15 News Release and accompanying:

Your Move Acad Scotland HPI January 15 published 18th March 15 News Release and accompanying:

Acad Wales HPI January 15 published 25th March 15 News Release and accompanying:

LSL Acad HPI Archive

Comparison of house price growth over the past 10 years

 

 

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