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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

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

Index
306.1

Average House Price
£314,643

Monthly Change
0.9%

Annual Change
4.4%

Main Points

The market is slowing but still sets record prices in October

  • London and the South East head price growth league
  • Bristol has highest annual growth of all major conurbations
  • Stamp duty holiday continues to support the market

September Key Walker Fraser Steele HPI (Scotland) Statistics

Index
248.1

Average House Price
£189,452

Monthly Change
0.2%

Annual Change
3.0%

Main Points

House prices continue to rise in September

  • Lockdown-inspired ‘lifestyles’ influencing buyers’ choice
  • Stirling has highest annual growth on the mainland, at 14.1%

News & Associated HPI Data

e.surv HPI (England and Wales) October 20 
published 10th November 20 News Release and accompanying:

Walker Fraser Steele HPI (Scotland) September 20
published 27th November 20 News Release and accompanying: