Over the period until the third quarter of , in the EU, rents increased by Rents and house prices in the EU have continued their steady increase in the third quarter of , going up by 1. Between and the second quarter of , house prices and rents in the EU followed similar paths, but since the second quarter of , those paths have diverged significantly. While rents increased steadily throughout the period up to the third quarter of , house prices have fluctuated considerably.
After a sharp decline between the second quarter of and the first quarter of , house prices remained more or less stable between and Then, there was a rapid rise in early , since when house prices have increased at a much faster pace than rents. When comparing the third quarter of with , house prices increased more than rents in 18 EU Member States. Decreases were observed in Greece For rents, the pattern was different. Decreases were recorded in Greece The weights used in are based on data for HPIs are computed as Laspeyres-type annual chain indices allowing weights to be changed each year.
In addition to the price index for total dwellings transacted in the market, Eurostat publishes separate indices for newly built and existing dwellings. The separation of dwellings into newly built and existing is relevant due to their often different price evolutions.
Due to limited data availability, no European aggregates are compiled for these sub-categories. The weights for the indices are illustrated in Figure 10, for available countries.
The first and most important issue in the compilation of HPI is the availability of data on dwelling purchases. This refers to information about the price of the transaction and the dwelling characteristics. The dwelling characteristics which most influence price are the type of dwelling flat, detached house, terraced house, etc. A second issue is the heterogeneity of the housing market, where virtually every dwelling bought and sold is different from the others in some respect.
The consequent quality adjustment from one time period to the next is also a major methodological issue in compiling house price indices. The HPI should be seen as an independent price index aimed at measuring price developments for dwellings transacted in the market. The main technical characteristics of the HPI are:. Prices cover the acquisition cost of a property in itself, and not the total cost that is necessary to acquire, own and maintain a residential property; so other costs related to the acquisition of the property and major repairs are ruled out from its scope.
Below you can find the available links to the national statistical institutes' websites dealing with housing price statistics.
These links contain, in some cases, additional data on housing or methodological notes regarding the compilation of house price indices. Where there is no specific link on housing, a general link to the NSI website is provided. In recent years, the analysis of housing markets has intensified as has the demand for high quality statistics on national, euro area and EU housing, in particular on residential property price indices.
Eurostat and the national statistical institutes have been working together since on a series of pilot projects to set up a system to provide harmonised data for residential property prices at European level.
Prior to this work, there was very little comparability between national data on housing prices within the EU. The development of comparable, timely and frequent statistics on changes in residential property prices has been considered an essential target for European statistics. In this context, the terms 'residential property price', 'house price' and 'dwelling price' are used interchangeably to describe the price developments of all residential properties purchased by households flats, detached houses, terraced houses, etc.
The emphasis is on market prices, with non-market prices being ruled out from the scope of the house price indices self-build dwellings are therefore excluded. The price of dwellings follows a gross acquisition concept, i. Tools What links here Special pages. Data from third quarter of Next planned update: 8 April Full article. Annual and quarterly growth rates The HPI shows the price changes of residential properties purchased by households flats, detached houses, terraced houses, etc.
Dynamics in the housing market: uses of the house price index and policy implications The HPI has been used in conjunction with other macroeconomic statistics to build derived indicators for the analysis of the housing market dynamics.
Long term trends in House prices and rents Figures 6 and 7 below show the long term trends of house prices and rents since Source data for tables and graphs Download Excel file. Compilation The first and most important issue in the compilation of HPI is the availability of data on dwelling purchases. The main technical characteristics of the HPI are: the price of land is included in the price and in the weight gross acquisition concept ; only actual transactions of dwellings are covered; market prices for residential properties are covered, while non-market prices are ruled out of the scope of the HPI; meaning that self-built dwellings are excluded, with the possible exception of turnkey pre-fabricated houses; the focus is on the measurement of price developments for all residential properties purchased by households, independently of their final use; so dwellings bought by households for uses other than owner-occupancy are included, for example for investment; all purchases of new and existing dwellings are to be considered, independently of their previous owner; so existing dwellings transacted between households are included.
Additional information on national house price data Below you can find the available links to the national statistical institutes' websites dealing with housing price statistics. Belgium : data provided by Statbel, the Belgian statistical office. Czechia : data provided by the Czech Statistical Office can be found here. Link to documentation of Statistics Denmark 'sales of real property' statistics.
Germany : German website on real estate prices. Spain : data based on OOH pilot study, provided by INE complemented with Eurostat estimates for QQ3 based on non-harmonised data ; the link to the INE website dealing with housing price index: Methodology and results press release, quarterly series, annual averages indices and weightings are available therein. Stay up to date. Get the latest figures on house prices in the EU, the euro area and the Member States.
Also, check the next planned release dates. How have house prices developed? Have a look at our line chart to see the trend in house prices in your country since and compare it to others. Read more on house prices and their dynamics. Browse this section of our website dedicated to statistics on the harmonised indices of consumer prices. Overview - Housing price statistics.
Housing price and sales statistics - Overview. Which information can I find here? This section covers the following statistics: House Price Index HPI : This measures the changes in the transaction prices of residential properties, both newly built and existing, purchased by households; House sales : This covers the changes in the total number and value of housing transactions purchased by households; Owner-Occupied Housing Price Index OOHPI : This measures the changes in the transaction prices of dwellings purchased for own-use and the cost of all goods and services that households purchase in their role as owners-occupiers of dwellings.
What is this data used for and why is it important? Visualise statistics on housing in Europe Explore our new interactive publication "Housing in Europe — statistics visualised" which shows the latest figures on many different aspects of housing through easy texts and data visualisations.
Stay up to date Get the latest figures on house prices in the EU, the euro area and the Member States. Direct access to
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