The graph shows two versions of the house builders index. They are constructed as the total share price of the builders TW BDEV PSN WLB BBY relative to the total stock market and rescaled to Index=100 in January/2004 (Combi-5, 2571; FTSE, 4390). The Combi-5 FTSE-adjusted is designed to reflect sentiment specifically towards property by removing any general sentiment towards stocks. For more details, see the House Builders Index page on HouseProces.uk.net.
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