A new official property price index – the House Price Index (HPI) – is due to launch next month, with a promise to end at least some of the monthly confusion over real estate value inflation/performance caused by oft-conflicting stats from the Land Registry and the ONS indices.
But there may be a lot more to it, argues Maskells’ Charles Curran: the new HPI could be a “Trojan Horse” for a significant re-valuation of Council Tax bands (which currently still use 1991 values), and has the potential to “fundamentally change the way UK property is taxed”…
Charles Curran is Principal & Market Data Analyst at Maskells Estate Agents. He has previously held senior positions at Bear Stearns, Bank of Scotland and Societe Generale
Image: Trojan horse on a Corinthian aryballos