Today (14 June 2016) Registers of Scotland (RoS) announced the publication of the first single official UK House Price Index (UK HPI).
Set to now continue on a monthly basis, the new UK HPI covers statistics up to April 2016.
The publication came as a result of a recommendation from the 2010 National Statistician’s Review of Official House Price Statistics, which highlighted the requirement for the production of a “single definitive house price index produced by the official statistics producer community”.
Consequently, the Office for National Statistics (ONS), Land Registry for England and Wales (Land Registry), RoS and Land & Property Services Northern Ireland (LPSNI) came together to develop the UK HPI.
RoS’ director of commercial services, Kenny Crawford, said: “This publication is the culmination of a new collaborative approach to the delivery of more accurate property figures for the UK by the key producers of official house price statistics in the UK and we are delighted to be offering it as part of our suite of statistical publications.
“RoS has been producing quarterly house price statistics for Scotland for many years and, following user consultation, will continue to publish these quarterly statistics in parallel with the monthly UK HPI. We also intend to publish tables on our website to allow comparison between these quarterly statistics and the HPI Scotland as more data becomes available.
“The HPI Scotland shows that the average price of a house in Scotland in April was £138,445. This compares to a UK average of £208,974.”
More information can be found on the RoS website.