Halifax House Price Index Is Now the Lloyds Index — And the Numbers Tell Two Different Stories

One of the UK's two benchmark house price measures has quietly changed its name. The Halifax House Price Index has been rebranded the Lloyds House Price Index as of July 2026, reflecting that the data has for some time been drawn from both Halifax and Lloyds mortgage lending, not Halifax alone. The methodology itself hasn't changed — but the rename is a good moment to look at what the two main indices are actually telling buyers and sellers right now, because they don't agree.

Two indices, two different pictures

The newly renamed Lloyds index put the average UK house price at £299,330 in June 2026, up 0.2% on the month and just 0.6% higher than a year earlier. Nationwide's competing index put the average at £277,484, flat on the month but up 2.2% year-on-year — a noticeably stronger annual growth figure than its rival despite a lower absolute price.

The gap exists because each lender's index only captures mortgage approvals made through their own book, excluding cash buyers and mortgages arranged through other lenders entirely. Halifax/Lloyds and Nationwide have different regional footprints, different typical borrower profiles, and different weighting methods, which is why the same housing market can produce a 0.6% and a 2.2% annual growth rate in the same month.

Why this matters if you're buying or selling

Neither index is "the" UK house price — both are samples, and a useful one only in combination with the ONS's House Price Index, which uses actual Land Registry completion data and is considered the most comprehensive, if the slowest to publish. If you're negotiating a purchase or valuing a property to sell, quoting a single lender's index as "the market rate" for your area is weaker evidence than a local estate agent comparable or a Land Registry search of recent sales on your street.

Checklist for buyers and sellers right now

• Don't rely on one index alone — cross-check Nationwide, Lloyds and the ONS/Land Registry data for your region.
• Ask your estate agent for actual sold prices on comparable properties within the last three months, not asking prices.
• If you're mortgage-shopping, remember house price index growth and mortgage rate movement are separate things — a home rising in value doesn't mean rates are falling, and the average SVR is still around 7.35%.
• Regional variation is large: national averages can mask double-digit differences between, say, London and the North East.

International comparison

The US relies on the Case-Shiller Index and Federal Housing Finance Agency data, both drawing on repeat-sales methodology across a broader lender base than any single UK bank. Australia's CoreLogic Home Value Index similarly aggregates across all lenders rather than one institution's book, which is part of why UK single-lender indices like Nationwide's and Lloyds' are viewed by analysts as directional indicators rather than precise valuations.

Key Numbers

• Lloyds (formerly Halifax) average price: £299,330, +0.6% year-on-year
• Nationwide average price: £277,484, +2.2% year-on-year
• Average SVR mortgage rate: ~7.35%

Sources

• Analysis of movement in house price indices — BCIS
• What is going to happen to UK house prices — Money to the Masses
• Why do Nationwide and Halifax give different prices — ValuQ
• ONS House Price Index
• UK mortgage rates today — Uswitch

Educational content only — not financial advice.