On the market – how the ONS measures property prices

House prices are attracting a lot of attention at the moment with speculation around whether we may see a housing market crash amidst a sluggish economy. Here at the ONS, we have also seen some debate about how average house prices, such as those published in our UK House Price Index (HPI) are calculated as well as some queries around the timeliness of our HPI data. Chris Jenkins explains the detailed calculations that take place in order that we can produce meaningful and comparable measures of change across the UK.
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