New Government House Price Index Expected Early in 2016
It seems that the Government’s new house price index will be launched early in 2016.
Last year, the Department for Communities and Local Government and the Office for National Statistics (ONS) revealed that they would be publishing just one official house price index. Over the past five years, three have been produced by different departments of the Government.
In October 2014, a consultation was launched and now the ONS has released a progress report.
It states that each of the Government departments involved in the collection of house price and related data have now agreed that there should be just one index. This seemingly means that any disputes have been settled.
It has also been agreed that the new index will be published on the Land Registry pages of the gov.uk portal.
Additionally, it has taken a long time for the Government to decide what data will be used and how it will be measured. However, the ONS says that this will be resolved soon.
Despite the ONS not announcing specific dates, it is believed that by the end of this year, the new index will be tested and open publication will begin at some time during the first half of 2016.