The Government is set to conduct a review of its official house price indices - the House Price Index from the Department of Communities and Local Government, and the monthly report from the Land Registry - in an effort to ‘improve accessibility to official statistics on the housing market.'
House price indices are an important tool in deciphering the property market and although the Government figures are often more accurate than indices based on asking price, they also tend to be released long after the fact and delay any reaction to their findings on the market by months. The report is due by the end of the year.
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