|Unit||Index 2015=100, NSA|
|Adjustments||Not Seasonally Adjusted|
For the EU, the House Price Index (HPI) measures inflation in the residential property market. The HPI captures price changes of all kinds of residential property purchased by households (flats, detached houses, terraced houses, etc.), both new and existing. Only market prices are considered, self-build dwellings are therefore excluded. The land component of the residential property is included.
These indices are the result of the work that National Statistical Institutes (NSIs) have been doing mostly within the framework of the Owner-Occupied Housing (OOH) pilot project coordinated by Eurostat. The national HPIs are produced by NSIs, while the European aggregates are computed by Eurostat, by aggregating the national indices.
HPI is available for all EU Member States (except Greece), the United Kingdom, Iceland, Norway and Turkey. In addition to the individual country series, Eurostat produces indexes for the euro area and for the EU.
The emphasis is on market prices, with non-marketed prices being ruled out from the scope of the House Price Indices (HPIs). Self-build dwellings are therefore excluded. The prices of dwellings include the land component.
The HPI data is released quarterly, and it may include some provisional data for the latest one-two quarters. These are usually confirmed or revised to the final figures the following quarter(s).
Value of housing transactions index is usually final, but it might be revised as a result of new data collected and improvement of data sources/methodology.
Major revisions (usually affecting back data) occur rarely, in cases of significant data sources and methodological improvements. They are normally released with explanatory notes.
The change of reference year caused revisions to a few previously published rates of change because of rounding effects. Thus, rates of change for European and country aggregates calculated from the 2015=100 series can differ from the rates calculated from the 2010=100 series.
For data from the first quarter of 2020, the EU HPI aggregate will no longer include the United Kingdom data, which series will continue to be available as an individual country (until the end of 2020).