UK Housing Market Observatory

2016Q1 Release. Overview: While UK property prices are still at historical highs, there are no signs of exuberance at the national level. There is, however, a considerable variation in the rates of house price inflation across regions. The growth of London house prices has slowed down: the figure for the first quarter of 2016 is 1.2%, which is nearly three times lower than that recorded in the last quarter of 2015. Read more

Find out more about the UK Housing Observatory project.

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Indicators of house price exuberance in the UK National Market. Updated every quarter.

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Indicators of house price exuberance for 13 regional real estate markets in the UK. Updated every quarter.

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Links to Excel files containing the exuberance indicators are available for download in this section.

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R and Eviews codes implementing the econometric tests of Phillips et al. (2013) "Testing for Multiple Bubbles 1: Historical Episodes of Exuberance and Collapse in the S&P 500".

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Links to related publications describing the methodology of the Generalised Supremum Augmented Dickey Fuller test used for identification of explosive episodes. 

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A detailed description of the methodology and sources of housing data is available in this section.

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