ABSTRACT
The annual reports of the Inland Revenue contain data on the types of assets comprising estates. To simplify the compilation of a property price index the assets have been combined into four groups (A–D). The weight assigned to each group of assets in the index is determined by their values as a proportion of the total value of estates in 1957–8—a year mid-way between 1949 and 1967 and hence convenient as a base. Group A consists of assets in the form of cash, balances at clearing banks, trustee and Post Office accounts, mortgage loans, ordinary life policies, farming stock, trade assets of individuals, household goods, government securities, preference and debenture shares and some miscellaneous assets. Group B consists of quoted and unquoted ordinary shares. Group C covers land and miscellaneous realty and the index used is an index of agricultural land values collated by G. H. Peters. Group D comprises residential and industrial buildings and miscellaneous rights over property.
