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This article builds on the October 2014 consultation on the development of a definitive house price index and subsequent published response to provide final details of the methodology being used in the development of the new, single official house price index (HPI). This article will focus on explaining the sources of data being used in the production of the new HPI; define the final methodology which is being used to calculate the new HPI; consider further the findings and recommendations from both the user consultation and United Kingdom Statistics Authority special phase 1 assessment of the new UK HPI before finally discussing the initial plans for transition to the new HPI in 2016.

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