Detailed data set on nominal residential property prices

The detailed data set of nominal residential property prices consists of around 300 series from 56 countries, collected from national central banks. The data set is updated on a monthly basis.

These data series differ significantly from country to country. They may vary in frequency, in the type of property and vintage, the covered area, priced unit, compilation method or seasonal adjustment. The specificities of each country's residential property markets and the absence of binding international standards for property price statistics could explain this variety of dimensions. However, recommendations on best practice for compiling residential property price indices can be found in the Handbook on Residential Property Price Indices (HRPP), 1 which presents these data in the context of different user needs.

In disseminating these statistics, the BIS and its member central banks are following up on Recommendation 19 in the Report on The Financial Crisis and Information Gaps prepared by the IMF and the FSB secretariat for the G20 Finance Ministers and Central Bank Governors (initial report October 2009, progress report May 2010, progress report June 2011, progress report September 2012 and progress report September 2013).

Any use of the detailed series shall be cited as follows: "Sources: National sources, BIS Residential Property Price database, http://www.bis.org/statistics/pp.htm." 

Selected series

To facilitate cross-country analysis, the BIS has compiled a subset of the detailed data set by selecting one residential property price series per country. The selection is based on the HRPP and on metadata provided by central banks, keeping in mind that series had to be both timely and long. In most cases, this series covers all types of dwellings in markets for both new and existing dwellings in the country as a whole.

The selected subset is as homogeneous as possible. Nevertheless, significant discrepancies remain in sources and compilation methods, as the recommendations of the HRPP have not yet been implemented in all countries. The methodological summary provides a detailed coverage of the selected indicators.

These selected series have been rebased and are presented at a quarterly frequency and updated on a quarterly basis; where the frequency of the series collected is monthly, the quarterly data are calculated as the average of the monthly observations. In addition to the nominal price series, and their growth rates, the data set includes CPI-deflated versions of the series (and their growth rates). Hence, the following four series are published for each country:

  • Nominal value; average for 2010 = 100.
  • Real value (nominal value deflated by the consumer price index); average for 2010 = 100.
  • Nominal year-on-year percentage change.
  • Real year-on-year percentage change.

An analysis based on these selected indicators is also released on a quarterly basis, with a particular focus on longer-term developments in the June release.

Any use of the selected series shall be cited as follows: "Sources: National sources, BIS Residential Property Price database, http://www.bis.org/statistics/pp.htm."

This webpage and the detailed data set contain links to other websites for the convenience of users. Neither the BIS nor its member central banks endorse these websites or assume any responsibility for their content.

 
  1. The Handbook on Residential Property Price Indices (HRPP) was completed in 2013. Its compilation was led by Eurostat under the auspices of the Inter-Secretariat Working Group on Price Statistics. The HRPP builds on work undertaken by a number of international organisations over recent years to identify the requirements for improved data on real estate prices from an economic, monetary and financial stability perspective.