Press Office

Flagship House Price Index: Adding value three years on

Since 2006, the House Price Index (HPI), available free on Land Registry's website, has gathered its own momentum to become a leading indicator of property movement within England and Wales. It is widely viewed as "the most accurate barometer of the housing market."

Building on the success of the HPI, Land Registry has 'packaged' all of its property price data, including HPI, under the banner of 'Property Price Solutions' to capitalise on the increasing demand for accurate and timely property price information.

HPI captures changes in the value of residential properties at a national level as well as in the regions and counties, and is based on a repeat sales regression methodology, using Land Registry's data set of completed property sales. Perhaps less known are two other elements of the existing Property Price Solutions portfolio: Price Paid Information and Property Price Reports.

Price Paid Information provides complete monthly coverage of all individual residential property transactions in England and Wales.  Uniquely, this includes data from all lenders as well as data on cash purchases. Customers can request the whole price paid dataset, or simply choose a slice of the dataset relevant to them.

Katie Gordon-Smith, Land Registry's Head of Business Development said, "Businesses or individuals who wish to track house price trends have access to our data from over 15 million house transfers, including thousands of new sales each month, and it's fantastic value for money. We are planning to introduce new datasets to the portfolio, to ensure companies continue to have access to the cutting-edge data that they need."

Customers who do not require data for individual house prices can purchase a 'tailor-made' Property Price Report that shows aggregated data, allowing customers to select various options to suit their business needs. These drill down from regional level through to postcode level.

Property Price FAQs (pdf)

Ends

Notes to editors

1. Land Registry has been recording price paid data since 1995.

2. To find out more about Property Price Service Solutions, or about any of Land Registry's Add Value Services, call the Add Value Team on 0800 678 1678 visit www1.landregistry.gov.uk/addvalue

3. Land Registry's Add Value Services allow you to harness the power of property data for a wide range of service solutions that can be tailored for your business. Add Value Services is Property Price Solutions, Risk Management and Land Management. For more details about please visit www1.landregistry.gov.uk/addvalue

4. With the largest transactional database of its kind detailing over 22 million titles, Land Registry underpins the economy by safeguarding ownership of many billions of pounds worth of property.

Contacts

Suzy Rigg, PR Manager, Land Registry on 020 7166 4057 or email
Land Registry Head Office,
Lincoln's Inn Fields
London WC2A 3PH
www.landregistry.gov.uk