Lloyds sells iconic Halifax House Price Index to Markit

The UK’s Lloyds Banking Group is selling one of the country’s most popular property price trackers, the Halifax House Price Index to global financial data provider Markit.

Lloyds acquired the tracker when it was forced to buy out HBoS after the UK’s banking crisis. The index has been published monthly since 1983 and is widely viewed as a reliable gauge of house price performance in Britain.

No value was disclosed for the deal between Lloyds and Markit.

As part of the transaction, Markit will acquire the index and all associated intellectual property. Halifax will continue publishing data under Markit, who will also become the index administrator.

The index name and methodology will remain unchanged when the transaction completes, which is expected later this year. Markit said it will calculate and administer the Halifax House Price Index in compliance with the Iosco Principles for Financial Benchmarks, while Lloyds will be the submitter to the Halifax House Price Index in compliance with the same principles.