The Rightmove House Price Index. It calculates its house price by simply taking the Arithmetic Mean or Average asking price of properties as they come onto the market. This means it will be affected by price changes, if the mix of house type changes and if the mix of location changes for houses coming onto the market. It is not seasonally adjusted and covers properties from England and Wales. This is not unlike the Average I have calculated above however I use bought prices rather than asking prices. Asking prices in October were £243,168 which month on month is a rise of 3.5% and year on year is an increase of 1.5%.
The Acadametrics House Price Index. This index uses the Land Registry dataset but in a different way. It calculates its house price by taking the Arithmetic Mean or Average of bought prices. It then mix adjusts the data to take a constant proportion of property types, from a constant mix of geographic areas. It is seasonally adjusted and covers properties from England and Wales. It covers buyers using both cash and mortgages. Buying prices in October were £225,954 which month on month is a small increase of 0.1% and year on year is an increase of 2.3%.
The Halifax House Price Index. This index is based on buying prices of houses where loan approvals are agreed by Halifax Bank of Scotland. It uses hedonic regression to remove type and mix variations thereby measuring the price of a standardised house. I use the non seasonally adjusted dataset and it covers the complete United Kingdom. Sales prices in October were £159,818 which month on month is a decrease of 0.4% and year on year is a fall of 2.7%.
The Nationwide House Price Index. This index is very similar to that of the Halifax except it is based on buying prices of houses where loan approvals are agreed by Nationwide Building Society. Sales prices in October were £164,153 which month on month is a rise of 0.1% and year on year is a fall of 0.9%.
The Land Registry House Price Index. This index uses repeat sales regression on houses which have been sold more than once to calculate an increase or decrease. As it analyses each house and compares the latest buying price to the previous buying price it is by definition mix adjusting its data also. This is then combined with a Geometric Mean price which was taken in April 2000 to calculate the index. It is seasonally adjusted and covers properties from England and Wales. It covers buyers using both cash and mortgages. Sales prices in September were £162,561 which month on month is a decrease of 0.3% and year on year is an increase of 1.1%.