Currently, there are a number of different sources of house price statistics published in addition to the UK HPI. There will be differences in the data published by each source, as there are differences in both the data and methodology used. For example, Rightmove use asking prices, sources such as Nationwide and Halifax use their own mortgage approvals data, while the UK HPI uses data at the end of the conveyancing process, calculated based on completed sales. Find out about the difference between the various house price index measures and their strengths and limitations in our publication Comparing house price indices in the UK. Property Transaction Statistics published by HM Revenue & Customs differ to those published as part of the UK HPI due to differences in coverage and timeliness of registration, although trends are similar. High level summary The UK HPI is calculated based on completed sales at the end of the conveyancing process. This means that while the UK HPI may not be as timely in publishing as the other measures, it is however ultimately more complete with coverage of both cash and mortgage transactions for the whole of the UK. The large data source used, land registrations (such as that maintained by HM Land Registry), allows data to be published down to a local authority level with further breakdowns available by property type, buyer status, funding status and property status. Halifax house price index and Nationwide house price index Both Halifax and Nationwide produce house price indices based on their own mortgage approvals only and therefore will not include any cash transactions. They both have UK-wide coverage, and since the Halifax and Nationwide use only their own in-house data they can process them immediately and do not have to await the receipt of data from other lenders. This means that they are timelier than the UK HPI. LSL Acadata house price index Similar to the UK HPI in data source. LSL Acadata (previously the LSL Property Services/Acadametrics) HPI is based on completed sales at the end of the conveyancing process using data from HM Land Registry for England and Wales. The HPI provides mix and seasonally adjusted results at national, regional and county or unitary district or London borough levels. The index can be accessed at Acadata. Rightmove house price index The Rightmove index includes all property types that are advertised on its website. However it includes houses that do not subsequently sell and reports only asking prices. If house price movements are different between the non-selling and selling houses then this will affect the accuracy of estimates of house prices and changes in them. Registers of Scotland official quarterly housing market statistics Registers of Scotland will continue to produce unadjusted statistics based on these transactions. House Price Statistics for Small Areas House Price Statistics for Small Areas (HPSSAs) are published on a quarterly basis calculated based on HM Land Registry Price Paid data. HPSSA’s are not a house price index as they do not control for changes in the mix of properties over time (mix adjust), therefore they provide different figures to the UK HPI. They report non-adjusted average transaction values down to middle super output area. HM Revenue & Customs Property Transaction Statistics HM Revenue & Customs (HMRC) data are based on Stamp Duty Land Tax returns. Purchasers have 30 days from the date of completion to submit their land transaction return before incurring a penalty. This means that HMRC transaction volumes are more complete than those published in the UK HPI for recent months. Transaction volumes published by HMRC also differ in coverage to those published in the UK HPI. We believe that the main reason for this difference is that residential properties where the buyer or seller is a corporate body, company or business are excluded from the HM Land Registry data in the UK HPI but included in HMRC property transaction statistics. UK HPI data exclusions can be found in section 2.