Release: House Price Index, February 2012

The ONS House Price Index (HPI), previously published by the Department for Communities and Local Government (DCLG) is a monthly release that publishes figures for mix-adjusted average house prices and house price indices for the UK and its component countries and regions. The index is calculated using mortgage financed transactions that are collected via the Regulated Mortgage Survey by the Council of Mortgage Lenders. These cover the majority of mortgage lenders in the UK.

The HPI Statistical Bulletin provides comprehensive information on the change in house prices on a monthly and annual basis. It also includes analysis by country, region, type of buyer (first time buyers and former owner occupiers) and type of dwelling (new dwelling or pre-owned dwelling). Historical series for all accompanying tables are also available in the data section of this release.

The transfer of the HPI from DCLG to ONS took place in April 2012.  All associated HPI tables that were previously published by DCLG (tables A1-A7 and live tables 502-508, 511-517, 521, 523, 534-540, 557, 571, 572 & 590-594) are now available in the HPI reference tables which can be accessed via the data section of this release.  Note that ONS have renumbered these tables as part of the transfer.  A full look-up table is included in each HPI reference table that will allow users to locate the new ONS table number.  The content of these tables has not changed.

All historical HPI data previously published by DCLG will remain on the DCLG website for at least the next 12 months.

Other useful information:

As announced by DCLG last month, an error was identified with the 2011 HPI weights used by DCLG at this stage last year. This error has been corrected and has led to revisions to both mix-adjusted house prices and index values for the whole of 2011. These revisions impact on the following tables in this release:

• Tables 1 to 7 (previously DCLG tables A1 to A7)

• Tables 8, 9, 10, 13, 14, 17, 18, 19, 22, 25, 32 and 33 (previously DCLG live tables 590, 592, 594, 508, 591, 521, 523, 557, 502, 507, 572 and 593 respectively)

In the June 2011 DCLG HPI release, revisions were published due to additional sample records being received for the period October 2010 to May 2011.  However, some of these revised estimates for 2010 were not initially updated in a number of the annual DCLG 'live tables'. These revised data have now been taken-on and that has led to revisions to 2010 data in the following tables in this release:

• Tables 23, 24, 26, 27, 28, 31 and 34 (previously DCLG live tables 503, 505, 511, 512, 513, 571 and 532 respectively)

All the above tables can be accessed via the data section of this release, or via the reference tables linked below.

ONS HPI monthly and quarterly tables (numbers 1 to 19). (3.04 Mb Excel sheet) This reference table provides full historical series for the monthly tables accompanying the House Price Index Statistical Bulletin.  This reference table also contains all the quarterly live tables transferred to ONS from DCLG.  Please note that during the transfer, ONS has renumbered the live tables - full details of the new numbers and their corresponding DCLG numbers can be found in the 'contents' page of the reference table.

ONS HPI annual tables (numbers 20 to 39). (1.05 Mb Excel sheet) This reference table contains all the annual live tables transferred to ONS from DCLG. Please note that during the transfer, ONS has renumbered the live tables - full details of the new numbers and their corresponding DCLG numbers can be found in the 'contents' page of the reference table.

ONS HPI, February 2012, revisions table. (289.5 Kb Excel sheet)  This reference table shows the revisions to 2011 data for tables 1 to 7.