Key data points
Last release
—
Observation period
Q4 2021
Next release
—
Forecast
—
Highest
6.70 %on Jun 30, 2021
Lowest
−3.00 %on Mar 31, 2019
Indicator info
House price index is a statistic designed to reflect the average change of houseprices across the country or a certain area. It ensures that the relativeimportance of different property types in different regions remains fixedthroughout the life of the index. Different adjustment must be used as no twohouses are identical. Therefore characteristics such as physical attributes of ahouse or its location should be included in the calculation if the index. Risinghouse prices are likely to increase consumer confidence and consumer spendingwhich lead to rising aggregate demand. This can have two effects. On one hand itcauses higher economic growth. However, on the other hand, it might contributeto inflation. Increased consumer spending is usually aimed at imported goodsthus higher house prices cause current account deficit.Weighted average of 8capital cities. The capital city indexes measure price movements over time ineach city individually. They do not measure differences in price levels betweencities.