Investigation into price indices
The Government is to launch an investigation into its own house price indices – the Land Registry and Communities and Local Government surveys.
The Office of National Statistics will also look at other house price surveys and report by the end of the year.
The move has been prompted by concerns that the various indices reach widely different conclusions.
In July, the Halifax, Nationwide and Land Registry all put house prices at between £166,000 and £170,000, whereas the CLG’s own survey put it at £209,505. Rightmove revealed an average of £236,332 for the same month.