Economy The current UK House Price Index (UK HPI) is a measure of the level of house prices based on the flow of sales to private households. This type of house price index represents the type and location of properties that are selling at that point in time. An alternative approach is one which reflects the stock of all residential properties. This article looks at the value of the stock of all residential properties in the UK and compares it with the UK HPI.
The article finds that while the average house price on the stock measure is below that of the flow estimate, mainly because larger properties in more affluent areas tend to be bought and sold more, their growth rates are broadly similar.
In December 2015, the average house price for England & Wales under a stock measure was £194,000, while for the flow measure it was £215,000.
However, the annual growth rates of both series are seen to be very similar, with the annual growth of the stock measure being 7.0% between 1996 and 2015, while the average annual growth for the UK HPI was 7.4% over the same period. | 
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