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House Price Indexand Key Statistics

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House Price Index

The e.surv E&W HPI is based on every residential property transaction in England and Wales, and is designed to provide a true measure of house price inflation.

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 e.surv HPI (England and Wales)) and Your Move Acadata Scotland HPI (now Walker Fraser Steele HPI (Scotland)). The Principality HPI for Wales was also launched in 2017.

Whilst the Land Registry (LR) is the only source of the final prices at which residential property is sold (including properties bought with cash- which are excluded from mortgage-based data), the problem exists that only c.38% of sales are reported in a timely fashion to the LR. These “emerging” data are insufficient to be definitive, which meant that LR data were long regarded as too “untimely” to be useful. Acadata resolved this problem using a custom-built “index of indices” methodology developed by Dr Stephen Satchell at the University of Cambridge and Dr George Christodoulakis, then at City University. The model provides the emerging % Monthly change to the average house price for both the current month and the month ahead. These are used in our e.surv E&W HPI initial release issued shortly after each month end.

Key Statistics

September Key e.surv HPI (England and Wales) Statistics

Index
300.7

Average House Price
£311,624

Monthly Change
0.7%

Annual Change
3.4%

Main Points

Stamp duty holiday keeps the market active

  • London once again heads up regional price growth at 7.6%
  • Nottingham topped our conurbation league with 10.7% annual growth in August
  • Prices at record levels in 19 unitary authority areas

August Key Walker Fraser Steele HPI (Scotland) Statistics

Index
248.2

Average House Price
£189,492

Monthly Change
0.5%

Annual Change
3.2%

Main Points

Strong demand for Scotland’s top-value homes

  • Lockdown-inspired ‘lifestyles’ influencing buyers’ choice
  • Transactions at 39% of 2019 levels
  • Edinburgh and Glasgow accounting for nearly 50% of Scotland’s 3.2% annual growth

News & Associated HPI Data

e.surv HPI (England and Wales) September 20 
published 8th October 20 News Release and accompanying: