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House Price Indexand Key Statistics

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House Price Index

The LSL Acadata 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 LSL Acadata E&W HPI), Your Move Acadata Scotland HPI. 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 LSL Acadata E&W HPI initial release issued shortly after each month end.

Key Statistics

MAY KEY LSL ACADATA E&W HPI STATISTICS

Index
292.1

Average House Price
£300,866

Monthly Change
-0.1%

Annual Change
0.3%

Main Points

Average prices in England & Wales gain just £1,000 in the year

  • Prices creep slowly upwards on an annual basis
  • Transactions in May 2019 up 7% on previous month
  • Nottingham takes top spot in Conurbation annual house price growth league

APRIL KEY YOUR MOVE ACADATA SCOTLAND HPI STATISTICS

Index
240.5

Average House Price
£183,655

Monthly Change
0.5%

Annual Change
0.7%

Main Points

Low and mid-value properties strengthen while top-end struggles

  • UK Finance advise Q1 2019 transactions are up year-on-year by 5.5%…
  • …but top-end sales volumes in Scotland are down 16% over same period
  • Highest price rises over the year in East Lothian