| | House Price Index Methodology |
 | | The Halifax House Price Index is the UK's longest running monthly house price series covering the whole country from January 1983. The UK Index is derived from the mortgage data of the country's largest mortgage lender, which provides a robust and representative sample of the entire UK market. |
 | | The indices calculated are 'standardised' and represent the price of a typically transacted house. The need for 'standardisation' arises because no two houses are identical and may differ according to a variety of characteristics relating to the physical attributes of the houses themselves or to their locations. |
 | | In summary, prices are disaggregated into their constituent parts using a commonly used statistical technique called multivariate regression analysis. This allows values to be attributed to the various qualitative characteristics (type of property, region, etc.) and quantitative characteristics (age of property, number of habitable rooms, garages, bathrooms, etc.) of a property. |
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