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Release: House Price Index, March 2012

Released: 22 May 2012 Next edition: 19 June 2012

Contact

Christopher Jenkins

Prices Division

hpi@ons.gsi.gov.uk

Telephone: +44 (0)1633 455474

Categories: House Price Indices, Economy, Prices, Output and Productivity, Price Indices and Inflation, Housing and Households, Housing Market

Frequency of release: Monthly

Language: English

Geographical coverage: UK

Geographical breakdown: Region

  • The House Price Index transferred from the Department for Communities and Local Government to the Office for National Statistics in April 2012.

  • UK house prices in March 2012 were 0.4 per cent lower than a year earlier. Despite the slight decline, house prices continue to lack any real movement with the current UK house price index little changed from where it was at the beginning of 2011.

  • Seasonally adjusted UK house prices decreased by 0.6 per cent over the month.

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:

Estimates for January and February 2012 have been revised as scheduled to include data provided by mortgage lenders who return data on a quarterly basis only. The result has been a mainly upwards revision of the January and February price indices. 

ONS HPI monthly and quarterly reference tables (numbers 1 to 19). (3.07 Mb Excel sheet) This reference table provides full historical series for the monthly tables accompanying the House Price Index Statistical Bulletin.  This month, tables 1 to 9 have been updated with the latest monthly data for March 2012 and scheduled revisions have been taken on for January and February 2012. Tables 10 to 19 have been updated with data for the first quarter of 2012. 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 table numbers and their corresponding DCLG table 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. There are no updates to this table this month. Please note that during the transfer, ONS has renumbered the live tables - full details of the new table numbers and their corresponding DCLG table numbers can be found in the 'contents' page of the reference table. 

Content from the Office for National Statistics.
© Crown Copyright applies unless otherwise stated.