Official house price index

Wednesday 15 July 2015  / Ruth Montia

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Last year, the Department of Communities and Local Government and the Office for National Statistics announced that they were wanting to have just one official house price index. This is because over the past five years there has been three produced by different arms of the government. So, it is now likely that there will be a new government house price index launched in the first half of 2016.

The ONS have now issued a progress report.

It indicates that each of the government departments involved in the collection of house prices and related data have now agreed that there will be just the one index.

It has also been agreed that there has been very little movement on deciding what data will be used and how it will be measured, but the ONS have assured this will be resolved as soon as possible.

Lastly, although the ONS is not committing to specific dates it is projected that by the end of this year there will be test of the new index and will open publication of it at some time in the first half of 2016.

The new index will be published on the Land Registry pages of the gov.uk portal.