Kate Allen UK house prices: up or down?

By Kate Allen, Callum Locke and Martin Stabe

House prices in the UK are a perennial topic of interest. But different indices measure house prices in different ways, causing confusion among home-owners, who can’t be sure whether their house price is going up or down.

This has become particularly noticeable in recent years as the indices readings have diverged.

For example, Tuesday’s data release from the Office for National Statistics suggests that house prices are up 3.8 per cent year on year – but only a few weeks ago Nationwide put the increase at 5.8 per cent.

Part of the reason for the different picture painted by the various indices is what’s selling has changed quite radically since the credit crunch. Another factor is that each index is measuring a slightly different thing.

Our house price interactive shows how a handful of leading indicators are performing, relative to each other – so now you can pick and choose which one you want to believe.

Drag the slider to the date you are interested in, and see what the percentage price change has been since that date. Which do you think tells the correct picture?