It is really important for us to understand what’s happening in the housing market and to be aware of how things may be changing.
Monitoring the housing market
We constantly monitor a number of different aspects of the housing market, such as average house prices, levels of homelessness and average mortgage rates.
This information is reported in the Housing Market Bulletin, a report we produce every quarter about the state of the housing market both in Sheffield and across the country.
Our Housing Market Bulletins are available to download.
As part of our responsibility to monitor the housing market in Sheffield, we routinely collect house price information from the UK House Price Index dataset, which uses sales data collected on residential housing transactions by the Land Registry.
The Land Registry information is widely considered the most reliable source of house price data because it includes all sales in England and Wales, cash and mortgage, and is not skewed by asking prices as some other house price information is.
We use this data to determine the average house price for each housing market area, ward and neighbourhood in the city. This is done by weighting the sale data for each area against the UK House Price Index average house price for the city.