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Confused By Conflicting Property Indexes?

March 13th 2015
By: Melanie

At Intercounty we realise how confusing it can be for people living in the UK, to have a proper sense of what is really going on in the housing market, the reason for this is that there are several main price indexes issued throughout the year which gather information in different ways – including time periods, purchasing and data.

So news that a new single house price index for the whole of the UK is being planned will hopefully give clarity to potential buyers and investors.  This follows a meeting last year by the organisations responsible for publishing house price data in the UK, which consist of the Land Registry, Land and Property Services, Northern Ireland and the Office for National Statistics Registers of Scotland.

The revamp could include a method which would enable one single definitive House Price Index, HPI, as well as looking at ways in which they could remove the indicators currently published by the Land Registry and the Office of National Statistics. The majority of the group agreed that one single official house price index would bring to the use of house price statistics. The new index might be published this summer, if they are approved.

If you are looking to invest in property, perhaps you are a first time buyer, or you are a property investor, or you are looking to move into a larger family home, then you will need to find a good local agent, they will be able to give you a much more accurate gauge on what is happening in the local market. As well as statistics on house price growth in specific areas.

So if you would like to find out more about local price changes across Essex and Herts why not pop into your local branch of Intercounty for a chat and a coffee or give our team a call on 0844 8111090.