The latest release of the two most prominent home price indices for the United Kingdom are signaling that the pricing bounce seen since March 2009 is continuing.
The “Nationwide” series, which reported data through May, indicated that U.K. home prices increased 9.83% on a year-over-year basis while the “Halifax” series indicated that U.K. home prices increased 4.75% over the same period.
Both indices are similar to our own S&P/Case-Shiller data series in that they both implement a methodology that seeks to standardize the quality homes included as source data and track the price changes occurring between sales instead of simply tracking the distorted average or median sales price.
The following chart show the price movement since 1991 to each index.
click for full-size dynamic version