The Office for National Statistics ( ONS ) has revised down data from its January 2016 House Price Index , knocking up to £ 27k of house prices , including mostly those in the south east of the country . Rather than a correction due to inflation , the government department stated that the revision was had simply a purpose of updating the house price index , to ensure its relevancy , reflecting changes in the types of houses being purchased . In effect , this data shows the average price of a home in London , however the ONS stated that it was normal for a change in house prices between 2011 and February and that is not confined to London .
The Office for National Statistics (ONS) has revised down data from its January 2016 House Price Index, knocking up to £27k of property values, affecting mostly those in the south east of the country. Rather than a correction due to overestimating, the government department stated that the revision was had simply a factor of updating the house price index, to ensure its relevancy, reflecting changes in the types of houses being purchased. In effect, this data shows the average price of a home in London, however the ONS stated that it was normal for a decrease in house prices between January and February and that is not confined to London.