Comparing Benchmark to the new HPI

Following mohican's post on the new HPI from National Bank Financial Group and Teranet it is worthy to compare the data to the so-called "benchmark" indicator published by the GVREB. Below is a graph comparing the normalised benchmark data released by GVREB to the Teranet - National Bank House Price Index(TM).



Indeed the two track each other reasonably well. It is probably too much to ask that the conspiracy theories surrounding the opacity of the benchmark data will disappear.

Edit: here is the series going back until December 1998. Still not much difference.