There are various measures of tracking house prices in the UK. There are several different house price surveys that give different perspectives on the state of the housing Market. It can become a little confusing because almost every week, there will be 2 or 3 different surveys, giving a different figure for average house prices.
The main house price surveys include:
Halifax Price Index. Halifax is one of the UK’s leading mortgage lenders. This gives it an insight into the UK Market.
Nationwide Price Index. The longest running house price index. See: Nationwide historical house price index
Royal Institution of Chartered Surveyors RICS. This is a survey of market confidence. They ask surveyors and estate agents about whether they expect prices to rise or fall in the future. Although this is less scientific it can give a useful guide to future trends.
Government House Price Survey. The government produce a monthly price survey of house price transactions. It is generated from 50 mortgage lenders through the survey of mortgage lenders. Government House price survey
Land Registry. The land registry takes into account all property transactions. It is able to compare the price of a house bought and then later sold. This gives an accurate insight into how much prices have risen, because it is comparing the same house, rather than average house prices. They produce a quarterly survey and monthly report.
Rightmove. Rightmove.co.uk is a property website which tracks the asking prices of houses. Note, selling prices may differ from asking prices, especially in times of rising or falling house prices. Rightmove also give access to the Land registry data, which includes all actually selling prices.
Hometrack. Hometrack.co.uk is another property website. They collect info on the state of the market by surveying 3,000 estate agents about whether prices are rising or falling
Search Land Registry archive for house prices at www.houseprices.co.uk
