Monthly national house price survey
For the last decade Hometrack has published a monthly house price survey. A sentiment survey not an index, it takes into account local market conditions with responses from over 5,000 agents and surveyors each month. First published in mid 2000 the results are based on answers to 11 standard questions which include the time to sell, changes in demand and supply, sales agreed, the proportion of the asking price being achieved and pricing levels. All of this data is collected across 2,300 local markets that builds up into a national picture.
This unique approach to tracking market trends is very different to that employed by house price indices. The Hometrack survey monitors trends in areas where levels of activity are both weak and strong to give a full picture of the housing market.