PPX: Property Partner Share Trading Index

These indices represent all properties currently trading on our Resale Market, except those properties with fire safety issues. For the performance achieved on sold properties (i.e. no longer trading on the Resale Market), view our Selling Record.

PPX: Share Trading Index - All Shares

This line tracks weighted average share prices traded on the Resale Market.

It is the daily index of the change in market capitalisation of all property investments listed on the Resale Market, based on 7-day weighted average trading prices. The index starting point of 100 represents original listing share prices, which reflect property purchase price. 

Independent Share Valuation Indices

Independent share valuation (referred to onsite as Latest Share Valuation) is calculated by the latest independent surveyor’s valuation of each underlying property, adjusted for any mortgage, purchase costs (SDLT, surveyors, solicitors, etc.) net cash position, Property Partner fees and corporation tax on capital gain.

These 2 lines (shown in blue) track weighted average independent share valuations, based on: 

1. Vacant Possession Value: the valuation if each unit within a residential block were sold individually, with vacant possession (no tenant in place); this is typically 5-15% higher than Investment Value, because buyers include the large market of owner-occupiers, as well as buy-to-let investors; and
2. Investment Value: the valuation assuming a block of residential assets is sold in a single transaction to a single investor; these transactions attract a discount to Vacant Possession Value, because owner-occupiers are excluded and investors seek discounts for buying in bulk.

Independent Property Valuation Indices

Independent property valuation is determined solely by the latest independent surveyor’s valuation of each property. It is not impacted by Resale Market pricing, mortgages, purchase costs, etc.

These 2 lines (shown in orange) track weighted average independent property valuations, based on: 

1. Vacant Possession Value; and
2. Investment Value.

In 2016, there are only a small number of properties represented, as most of our initial, individual unit property acquisitions, have now been voted for sale, so are no longer trading or included in the indices presented.  This results in volatility in both the Independent Share and Property Valuation Indices that is not representative of underlying independent valuations, so we have smoothed the trend and denoted this with a dashed line.