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Sheet 1: OECD RPPI metadata
| Metadata for national and regional House price indices | |||||||||||||||
| OECD countries and non-OECD G20 countries | |||||||||||||||
| Last update: 26 January 2022 | |||||||||||||||
| OECD statistics contact: | stat.contact@oecd.org | ||||||||||||||
| Acess the databases: | |||||||||||||||
| National and Regional House Price Indices | |||||||||||||||
| This dataset contains nominal house price indices for OECD members and G20 countries. | |||||||||||||||
| Whenever possible, these data on Residential Property Price Indices (RPPI) are broken down by region, dwelling type (single- and multi-family dwellings) and | |||||||||||||||
| vintage (new and existing dwellings). It also contains related housing indicators such as Consumer Price Indices for housing, and Housing transactions (number and/or value). | |||||||||||||||
| In order to adjust house price evolutions for overall inflation, this dataset also includes the households’ final consumption expenditure deflator from the national accounts. | |||||||||||||||
| The Headline Indicators dataset is a subset of this complete dataset (see below). | |||||||||||||||
| For more information please refer to the metadata section in the online database. | |||||||||||||||
| National and Regional House Price Indices - Headline indicators | |||||||||||||||
| This dataset covers OECD members and G20 countries. For each country, at national and regional levels where available, the RPPI that is available at the most | |||||||||||||||
| aggregate level has been singled out in this dataset, but due to data availability, headline indicators are country specific. For example, the RPPI at | |||||||||||||||
| the most aggregate level for the United States only covers single-family dwellings and not all types of dwellings, as is the case for most other OECD countries. | |||||||||||||||
| For more information please refer to the metadata section in the online database. | |||||||||||||||
| Play with the data: | |||||||||||||||
| Interested in visualising the data presented above? Visit our new interactive online tool to see how house prices have evolved over time in different countries, regions and cities. | |||||||||||||||
| Open the tool in full screen (not supported by Internert Explorer) | |||||||||||||||
| Frequently Asked Questions on RPPIs: | |||||||||||||||
| https://www.oecd.org/sdd/prices-ppp/Residential-Property-Price-Indices-RPPIs-and-related-housing-indicators-FAQs.htm | |||||||||||||||
| Country | Sources | National RPPI | Regional RPPI | Metadata |
| OECD countries | ||||
| Australia | Australian Bureau of Statistics | Yes | Yes | Australia |
| Austria | Statistics Austria | Yes | No | Austria |
| Austria | OeNB | Yes | Yes | |
| Belgium | StatBel | Yes | No | Belgium |
| Canada | StatCan | Yes | Yes | Canada |
| Chile | Central Bank of Chile | Yes | Yes | Chile |
| Colombia | Banco Central de Colombia | Yes | Yes | Colombia |
| Czech Republic | Czech Statistical Office | Yes | No | Czech Republic |
| Denmark | Statistics Denmark | Yes | Yes | Denmark |
| Estonia | Statistics Estonia | Yes | No | Estonia |
| Finland | Statistics Finland | Yes | Yes | Finland |
| France | INSEE | Yes | Yes | France |
| Germany | Destatis | Yes | No | Germany |
| Greece | Bank of Greece | Yes | Yes | Greece |
| Hungary | Central Bank of Hungary | Yes | Yes | Hungary |
| Hungary | Hungarian Statistical Office | Yes | No | |
| Iceland | Statistics Iceland | Yes | Yes | Iceland |
| Ireland | CSO Ireland | Yes | Yes | Ireland |
| Israel | Central Bureau of Statistics | Yes | Yes | Israel |
| Italy | Istat | Yes | Yes | Italy |
| Japan | Ministry of Land, Infrastructure, Transport and Tourism | Yes | Yes | Japan |
| Korea | Korea Appraisal Board | Yes | Yes | Korea |
| Latvia | Central Statistical Bureau (CSB) of Latvia | Yes | No | Latvia |
| Lithuania | Statistics Lithuania | Yes | Yes | Lithuania |
| Luxembourg | Statec | Yes | No | Luxembourg |
| Mexico | Sociedad Hipotecaria Federal | Yes | Yes | Mexico |
| Netherlands | Statistics Netherlands (CBS) | Yes | Yes | Netherlands |
| New Zealand | RBNZ and Stats NZ | Yes | No | New Zealand |
| Norway | Statistics Norway | Yes | Yes | Norway |
| Poland | Statistics Poland (GUS) | Yes | No | Poland |
| Poland | National Bank of Poland (NBP) | Yes | Yes | Poland |
| Portugal | Statistics Portugal | Yes | No | Portugal |
| Slovakia | Statistics Slovakia | Yes | No | Slovak Republic |
| Slovenia | Statistics Slovenia | Yes | Yes | Slovenia |
| Spain | National Statistics Institute (INE) | Yes | Yes | Spain |
| Sweden | Statistics Sweden | Yes | Yes | Sweden |
| Switzerland | Swiss National Bank (SNB) | Yes | Yes | Switzerland |
| Turkey | Central Bank of the Republic of Turkey (TCMB) | Yes | Yes | Turkey |
| United-Kingdom | Office for National Statistics (ONS) | Yes | Yes | United Kingdom |
| United States | Federal Housing Finance Agency (FHFA) | Yes | Yes | United States |
| Non OECD G20 economies | ||||
| Brazil | Central Bank of Brazil | Yes | No | Brazil |
| China | National Bureau of Statistics of China | Yes | No | China |
| India | Reserve Bank of India | Yes | Yes | India |
| Indonesia | Bank Indonesia | Yes | Yes | Indonesia |
| Russia | Rostat | Yes | No | Russia |
| Saudi Arabia | National Statistical Office | Yes | Yes | Saudi Arabia |
| South Africa | First National Bank | Yes | No | South Africa |
| House price Index (HPI) | AUSTRALIA |
| SOURCE | |
| National compiler(s) | Australian Bureau of Statistics (ABS) |
| Set of indicators (summary information) | ABS disseminates national and subnational RPPIs with the following characteristics: '- 8 capital cities (one in each state or territory) are distinguished at the subnational level, and for each of them 3 real-estate price indices are provided: ◾ House Price Index (HPI) ◾ Attached Dwellings Price Index (ADPI) ◾ Aggregated Residential Property Price Index (RPPI) - Both new and existing dwellings are covered, without distinction between the two. - The same 3 real-estate price indices are available at the national level. They are compiled as aggregates of the corresponding subnational indices (weighted average of the 8 capital cities); |
| Name of series, OECD | RHPI |
| CHARACTERISTICS | |
| Unit of measure | Index |
| Frequency (highest) | Quarterly |
| Reference period | 2011-12=100 |
| Starting period | 2003Q3 |
| Break | No |
| SCOPE | |
| Statistical population | The scope of the indices is restricted to those dwellings where the primary purpose is residential (i.e. excluding commercial properties) regardless of ownership and tenure of the occupants (i.e. including government owned properties and properties owned by private landlords). [Original metadata, Chapter 5] |
| Kind of data collection (complete / partial) |
All transactions in a given quarter are expected to be covered, using administrative data. All modes of financing are covered. [Original metadata, Chapter 7] |
| Source of elementary information used by the national compiler | The data source is all Australian residential property sales data, which are supplied to the ABS by CoreLogic (a commercial data aggregator and analysis firm). This dataset is a combination of residential property sales data obtained from State and Territory Land Titles Office or Valuer General Offices in each capital city (collectively known as the VGs) and real estate agents data provided to CoreLogic. The ABS applies classifications to this dataset to create the residential property sales dataset from which the price indexes and related statistics are produced. [Original metadata, Chapter 2] |
| Decomposition land & structure component | Both land and structures are covered. [Original metadata, Chapter 5] |
| CONCEPTS | |
| Classification used (building type) | Functional Classification of Buildings, 1999 (ABS cat. no. 1268.0.55.001) [Original metadata, Chapter 5] https://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/1268.0.55.001Contents1999%20(Revision%202011)?opendocument&tabname=Summary&prodno=1268.0.55.001&issue=1999%20(Revision%202011)&num=&view= |
| Type of prices | Transaction prices, agreed upon by the vendor and purchaser. They do not take account of, or include, any taxes or subsidies. [Original metadata, Chapter 7] |
| Pricing point | Date of exchange of contract [Original metadata, Chapter 7] |
| Quality Adjustment method (hedonics, repeat sales, appraisal, stratification) | The approach adopted by the ABS to control for quality and compositional change in measuring price movements is stratification. The optimum stratification is defined as one which maximises the homogeneity of the suburbs in a stratum, while also maximising the number of price observations each quarter. [Original metadata, Chapter 8] |
| BREAKDOWN BY TYPE OF DWELLING | |
| Vintage (new/existing dwellings) | Both new and existing dwellings are covered, without distinction between the two. [Original metadata, Chapter 5] |
| Type of property (apartments, houses, etc.) | HPI: ordinary detached houses, houses with office, houses with flat, and rural residential houses (which are not part of a farming business) ADPI: flats, units and apartments plus semi-detached, row and terrace houses RPPI: an aggregation of the HPI and the ADPI [Original metadata, Chapter 5] |
| GEOGRAPHICAL BREAKDOWN | |
| Geographical coverage | Partial (only capital cities, no rural area) |
| Territorial Units | The indices cover the 8 Australian Greater Capital City Statistical Areas (GCCSAs: Sydney, Melbourne, Brisbane, Adelaide, Perth, Hobart, Darwin, Canberra). The GCCSAs capture the socio-economic extent of the State/Territory capital cities for statistical purposes. For more detail, please see Australian Statistical Geography Standard (ASGS), Volume 1, Main Structure and Greater Capital City Statistical Areas, July 2016, cat. no. 1270.0.55.001. [Original metadata, Chapter 5] |
| Geographical Classification Used (e.g. OECD TLs, Eurostat NUTS) | Based on Australian Statistical Geography Standard (ASGS) https://www.abs.gov.au/websitedbs/D3310114.nsf/home/Australian+Statistical+Geography+Standard+(ASGS) The 8 cities for which house price indices are available are the capital cities of the 8 Australian states and territories. This breakdown into states/territories corresponds to the OECD TL2 classification for Australia. |
| AGGREGATION | |
| Index Type | Lowe index. |
| Weights (concept) | In the HPI and ADPI, each stratum has a weight which reflects its relative importance to the capital city indexes. For the RPPI, the weight of established houses compared to the weight of attached dwellings reflect their importance in each capital city. Weights are value shares in the stock of dwellings. The quantity of dwellings in each stratum is multiplied by a measure of the average price of dwellings in the stratum at the price reference period. In the current series, this means 2016 Census counts multiplied by September quarter 2018 prices. It is important to understand that it is not the stock values that are held constant from period to period in the compilation of the indexes. What is held constant is the quantity of dwellings underpinning these values. The price relatives of the median prices of the strata for the current and previous quarters are used to price update (inflate or deflate) these stock values for each stratum in each city. [Original metadata, Chapter 6] |
| Weights (sources) | The quantities (stock) of dwellings used in the calculation of weights are taken from the ABS Census of Population and Housing. |
| Weights (frequency of updating) | Quantities of dwellings used for weight compilation are updated every 5 years, when a new ABS Census of Population and Housing becomes available. |
| Weights (reference period) | The weight reference period for the current series of the indexes is 2016 and the price reference period is September quarter 2018. |
| SEASONAL ADJUSTMENT | Non seasonally adjusted |
| DISSEMINATION | |
| Publication date | 12 weeks after the end of the reference quarter |
| Revision policy | The residential property price indexes are considered final. Revisions would only occur in exceptional circumstances. [original metadata, §8.26] |
| Link to original data | https://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/6416.0Mar%202019?OpenDocument |
| Link to original metadata | https://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/6464.0Main%20Features22018?opendocument&tabname=Summary&prodno=6464.0&issue=2018&num=&view= |
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