Index LSL Property Services Acadametrics is formed in the company Acadametrics, which specializiruetsya on risk assessment in the field of real estate transactions in the UK and in the field of mortgage lending of real estate transactions in the UK for the company LSL, which in turn owns the real estate and appraisal companies.
The index reflects average prices for real estate which is bought and registered in the land registry in the last month. The index shows monthly and annual changes of prices and number of sales.
The index covers England and Wales, and separately formed property records of Scotland, based on information from the Land registry of Scotland.
The period of index coverage is one month.
The index exists since September 2003, but it was added information from the Land registry since 1995, adjusted for seasonal fluctuations.
Data is collected and processed as follows: Land registry gathers all the information about the purchase and sale of real estate in the UK, registered during the month, including data on sales in the previous month and average prices are formed. These data are provided in Acadametrics, where again weighted method shows the average price. Since only about a third of transactions of purchase and sale of real estate completed by the end of the month used for the calculation of the so-called “Index of indexes” – that is, the final figure is displayed when the transaction is completed.
The index enjoys a high degree of confidence, because it’s based on a very large amount of data, including all completed transactions for the sale, including mortgage financing, real estate purchases in new buildings and in older homes. The method of calculating the “Index of indexes” allows it to be more modern than the method used in the calculation of the index LandRegistry.
Skepticism about the index is based on the fact that after the completion of the current sales data for the previous month monthly adjusted, albeit only slightly.
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