Single house price index 'should be introduced'

Property signs The review followed concerns about the clarity and compatibility of official housing statistics

A single official house price index should be introduced in the UK, the government's chief adviser on official statistics has recommended.

National Statistician Jill Matheson carried out a review following user concerns about the coverage and clarity of official housing statistics.

The Department for Communities and Local Government (DCLG) produces housing statistics for the UK.

The Land Registry also provides data for England and Wales.

The two bodies have been asked to work together on the feasibility of producing a joint statistical report containing a headline house price index.

Additionally, lenders the Halifax and the Nationwide produce their own house price data which are widely used.

"There is a great deal of interest in and importance placed on changes in the value of our houses by all sections of society," Ms Matheson said.

"I want to be sure that official statistics producers are providing the right statistics on house prices to support decision making by us all."

Differences between house price indexes

Source Properties covered Time lags to publication

DCLG

All properties bought with a mortgage

About 6-7 weeks after the end of the month

Land Registry

Mortgage and cash sales, excluding houses that have sold only once and new builds

By the end of the next month

Registers of Scotland

Mortgage and cash sales, excluding houses that have sold only once and new builds

Produced quarterly a month after the end of the quarter

Nationwide

All properties bought with a Nationwide mortgage

At the end of the month

Halifax

All properties bought with a Halifax mortgage

At the beginning of the next month

More on This Story

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features

  • Krak des ChevaliersSitting targets

    How ancient treasures in Syria are being bombed to pieces


  • Mesut Ozil's tattoo reads "Only God can judge me"Ink explained

    Nine World Cup players' tattoos decoded, and one who refuses


  • Putting a coin in supermarket trolleyMinor annoyance

    Why are Morrisons getting rid of coin-locks on trolleys?


  • Sekhemka statueSelling out?

    The councils tempted to cash in on their art collections


  • Google sweetsName game

    Would Google have made it as BackRub?


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.