Those interested in the housing market have long been used to seeing the Halifax House Price Index. It has been in existence for 30 years and has been a key source for information, comparison, and indication of upcoming changes to the market. However, the Halifax report has been sold. Markit, a London based company, with a listing on the US Nasdaq index, has purchased the house price index from Halifax.

The former Halifax House Price Index has covered the data on housing prices for the entire UK since January 1983.

Markit plans to complete the deal later in the year. Until then and throughout the transition the index will be published as usual with same methodology. Changes could occur later on as needs are revealed. Market does plan to develop more housing market linked products. Markit produces data for more than 14,000 indices around the world.

Halifax, part of Lloyds Banking Group, explained that the tool was originally produced as a toll for the media, but had become a major financial tool used by companies and organizations.

A Halifax spokesman said, “The original purpose of it and what it is today are two very different things. It is not really a core part of our business, and it makes sense for someone like Markit to administer it.”

Stephen Noakes, the managing director for retail customer products with Lloyds Banking Group, remarked, “We believe Markit is an ideal partner to take on the administration of the Halifax House Price Index, given they are a globally renowned index provider.”