local authorities – monitoring and developing housing policies.central government – monitoring economic performance, policy making and regulation.Main users and their uses of housing market statistics include: The production of house price statistics is relevant for many purposes and has a variety of users who make use of housing market statistics to make a wide variety of decisions including provision of housing, whether to buy, and whether to lend. They are subsequently revised when the quarter is complete. In the 2 months following the end of a quarter, when Northern Ireland results for the most recent quarter are not yet available, indices, house prices and growth rates for Northern Ireland are carried forward from the previous quarter. House prices, transaction volumes and growth rates are held constant for each month within the quarter. Northern Ireland data is available on a quarterly basis.
Data is available at a national and regional level, as well as counties, local authorities and London boroughs.
Hedonic adjustments series#
in Northern Ireland (NI) since January 2005Ī derived series has been calculated back to 1968.in England and Wales since January 1995.The UK HPI captures changes in the value of residential properties and uses sales data collected on residential housing transactions, whether for cash or with a mortgage. low number of sales transactions in some local authorities and London boroughs (such as Orkney Islands, Na h-Eileanan Siar, Shetland Islands and City of London) can lead to volatility at these levels (geographies with low number of sales transactions should be analysed in the context of their longer-term trends rather than focusing on monthly movements).UK HPI data is published monthly with historical data available from 1969 (the data is quarterly prior to 1995).the UK HPI is a joint production by HM Land Registry, Land and Property Services Northern Ireland (LPSNI), Office for National Statistics (ONS) and Registers of Scotland.house price inflation is the rate at which the prices of residential property purchased in the UK rise and fall.to allow only pure price change to feed into the measurement of house price inflation, the UK HPI is mix adjusted to allow for differences between houses sold in different periods, for example the type or size of property.
Quality summary 1.1 Important points about the UK House Price Index (UK HPI) data
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