Introduction The UK House Price Index (UK HPI) measures the change in the price paid to purchase residential property in the United Kingdom. A number of different administrative datasets are used in the production of the monthly UK HPI using a technique known as hedonic regression. In simple terms, hedonic regression is a technique which accounts for the changing quality of property transacted each period to isolate only pure price change, so that the change in price is not distorted by differences in the composition of property sold (for example, you cannot directly compare the price of a one bedroom property sold in one period with a three bedroom property sold in another). The hedonic regression approach requires detailed information on the characteristics of property sold, both regarding the physical attributes of the property (such as size, floor space for example) and the location of the property (what type of neighbourhood, where in the country for example). For the production of the UK HPI 更多資訊 Summary of process An updated version of the Acorn classification is provided by CACI on an annual basis for use in the UK HPI, to ensure the classification used remains representative of changes in neighbourhoods and to capture new postcodes that become available as new property is built. Each month, the latest version of the Acorn classification is matched to the latest set of property transactions (using the postcode variable as the match key) with the resultant data then used in the production of the latest month's house price index.
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