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In 2003, Acadametrics 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 significant preparation costs from Acadametrics, rebranding the index as the
LSL Property Services/Acadametrics HPI; now LSL Acad E&W HPI, LSL Acad Scotland HPI and LSL and Wales HPI, launched 2011.
Using a 2002/3 purpose built “index of indices” forecasting methodology developed by Dr Stephen Satchell at the University of Cambridge
and Dr George Christodoulakis, then at City University, Acadametrics resolved the problem that only c.35% of sales are promptly reported
to LR; an insufficient sample to be definitive. For finality, our LSL Acad HPI “forecast” is updated monthly until every transaction is
included. Effectively, an October LSL Acad E&W HPI “final” result, published with the December LSL Acad HPI “forecast” is definitive.
Is this untimely?
Not compared with the highly reputed USA S&P Case-Shiller HPI for October 2012 published on 26th December. Since this provided an average
of the August, September and October results, the results were centred on September. An October LSL Acad HPI “final” is averaged over September,
October and November, centred on October and published 11th January. For serious users, we believe that only LR and Registers of Scotland (RoS)
provide the factual data requisite for definitive HPIs and that a c.3 month delay before the results are final is inevitable.
Does our LSL Acad HPI “forecast” accurately anticipate the “final” results? How our “forecast” index is changed by additional transactions is
shown in our monthly “Development of Indices” table. Is our “forecast” HPI the best guide to house price inflation? Our monthly Index Table
shows the results of all major indices and our Comparison of Indices shows how this and other indices relate to “final”. Why is our LSL Acad
E&W HPI average house price higher than shown by the Land Registry HPI and the lenders? Our
House Price Frequency Distribution
explains.
As FTHPI, our index was chosen by the Chicago Mercantile Exchange, the world's largest derivative exchange, for a possible residential house
price derivative, put on hold by the financial crisis. LSL Acad E&W HPI is released for publication on the second Friday of every month. Our
LSL Acad Scotland HPI and LSL Acad Wales HPI follow for downloading from our website. The downloadable documents below include our latest
News Release and full historic data series.
APRIL KEY LSL Acad E&W HPI STATISTICS |
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Index
235.4 |
Average House Price
£231,170 |
Monthly Change
0.3% |
Annual Change
3.0% |
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| MAIN POINTS |
- Prices rise £6,726 over the past twelve months
- Sales up 18% compared to last year
- House prices up £707 in April and have fallen only once in the past 17 months
- Of the 10 regions in England & Wales only two regions have negative house price growth
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MARCH KEY LSL Acad SCOTLAND HPI STATISTICS |
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Index
196.1 |
Average House Price
£144,615 |
Monthly Change
0.8% |
Annual Change
-0.9% |
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| MAIN POINTS |
- House prices climb £1,082 in March
- Prices rise for the third month in succession
- Prices climb £3,776 during 2013
- Sales volumes increase by 8% over previous year
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MARCH KEY LSL Acad WALES HPI STATISTICS |
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Index
235.4 |
Average House Price
£151,780 |
Monthly Change
-0.2% |
Annual Change
-1.1% |
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| MAIN POINTS |
- Welsh house prices fall £1,735 in a year
- House prices have sunk by £284 from February
- Prices have fallen back to December 2010 levels as lack of mortgages squashes demand
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AVAILABLE HERE
LSL Acad E&W HPI April 13 published 10th May 13
News Release
and accompanying:
LSL Acad Scotland HPI March 13 published 15th May 13
News Release
and accompanying:
LSL Acad Wales HPI March 13 published 22nd May 13
News Release
and accompanying:
LSL Acad HPI
Archive
Comparison of house price growth over the past 10 years
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