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House Price Indexand Key Statistics

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House Price Index

The e.surv Acadata 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 Acadata HPI (England and Wales)) and Your Move Acadata Scotland HPI (now Walker Fraser Steele Acadata 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 Acadata E&W HPI initial release issued shortly after each month end.

Key Statistics

June Key e.surv Acadata HPI (England and Wales) Statistics

Index
321.8

Average House Price
£336,247

Monthly Change
0.8%

Annual Change
10.7%

Main points

Prices bounce back in June aided by extended stamp duty holiday 

  • Annual prices increase by nearly 14%, excluding London
  • Price trend for flats remains low or negative
  • The North West has seen highest rate of growth for last nine months

May Key Walker Fraser Steele Acadata HPI (Scotland) Statistics

Index
266.9

Average House Price
£203,811

Monthly Change
-0.1%

Annual Change
11.0%

Main Points

Average house prices fall by £250 in May

  • Orkney and Shetland Islands have highest annual house price growth in Scotland
  • Aberdeen City sees largest rise in prices in May (on the mainland)
  • Transactions return to near normal levels in May