Dwelling price index and owner-occupied housing price index
Statistical activity code: 20412
Dwelling price index total, incl. apartments, houses and owner-occupied housing price index
ESA 2010 sector S. 14 (Household sector)
Dwelling Price Index (DPI) – expresses changes in the transaction prices of dwellings purchased by households.
Owner-Occupied Housing Price Index – expresses changes in the acquisition prices of new dwellings for households and in the prices of other housing expenditures incurred as owner-occupiers.
Dwellings purchased by households and other expenditures incurred as owner-occupiers
Estonia as a whole
The base year for the index is 2010 = 100
DIRECTLY APPLICABLE LEGAL ACTS
Commission Regulation (EU) No 93/2013 of 1 February 2013 laying down detailed rules for the implementation of Council Regulation (EC) No 2494/95 concerning harmonised indices of consumer prices, as regards establishing owner-occupied housing price indices
REGULATION (EU) 2016/792 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
Regulation (EU) No 1176/2011 of the European Parliament and of the Council of 16 November 2011 on the prevention and correction of macroeconomic imbalances
OTHER LEGAL ACTS
The dissemination of data collected for the purpose of producing official statistics is guided by the requirements provided for in § 32, § 34, § 35, § 38 of the Official Statistics Act.
The treatment of confidential data is regulated by the Procedure for Protection of Data Collected and Processed by Statistics Estonia: http://www.stat.ee/66485.
Notifications about the dissemination of statistics are published in the release calendar, which is available on the website. Every year on 1 October, the release times of the statistical database, news releases, main indicators by IMF SDDS and publications for the following year are announced in the release calendar (in the case of publications – the release month).
All users have been granted equal access to official statistics: dissemination dates of official statistics are announced in advance and no user category (incl. Eurostat, state authorities and mass media) is provided access to official statistics before other users. Official statistics are first published in the statistical database. If there is also a news release, it is published simultaneously with data in the statistical database. Official statistics are available on the website at 8:00 a.m. on the date announced in the release calendar.
The news release “Dwelling Price Index” once a quarter. The news release can be viewed on the website at http://www.stat.ee/news-releases.
Data are published in the statistical database at http://pub.stat.ee under the subject area “Economy / Prices” in the following tables:
XO027: Dwelling price index, change over previous year
XO028: Dwelling price index, 2010 = 100 (quarters)
XO0285: Owner-occupied housing price index, change over previous year
XO0286: Owner-occupied housing price index, 2010 = 100 (quarters)
The dissemination of data collected for the purpose of producing official statistics is guided by the requirements provided for in § 33, § 34, § 35, § 36, § 38 of the Official Statistics Act. Access to microdata and anonymisation of microdata are regulated by Statistics Estonia’s procedure for dissemination of confidential data for scientific purposes: http://www.stat.ee/dokumendid/51669.
Owner-Occupied Housing Price Indices. House Price Indices. Methodological manual referred to in Commission Regulation (EU) No 93/2013. Eurostat (2013)
The Owner-Occupied Housing Price Index and the Dwelling Price Index are compiled based on the quality criteria specified in Article 12(1) of Regulation (EC) No 223/2009 of the European Parliament and of the Council
To assure the quality of processes and products, Statistics Estonia applies the EFQM Excellence Model, the European Statistics Code of Practice and the Quality Assurance Framework of the European Statistical System (ESS QAF). Statistics Estonia is also guided by the requirements in § 7. “Principles and quality criteria of producing official statistics” of the Official Statistics Act.
Statistics Estonia performs all statistical activities according to an international model (Generic Statistical Business Process Model – GSBPM). According to the GSBPM, the final phase of statistical activities is overall evaluation using information gathered in each phase or sub-process; this information can take many forms, including feedback from users, process metadata, system metrics and suggestions from employees. This information is used to prepare the evaluation report which outlines all the quality problems related to the specific statistical activity and serves as input for improvement actions.
Ministry of Finance
Users’ suggestions and information about taking these into account are available on the website of Statistics Estonia at http://www.stat.ee/statistikatood.
Since 1996, Statistics Estonia has conducted reputation and user satisfaction surveys.
All results are available on the website at http://www.stat.ee/user-surveys.
All required transactions of dwellings are covered.
The house price indices (house price index (HPI) and owner-occupied house price index (OOHPI)) across Member States are comparable.
House price indices (HPI) considered to be comparable over time.
The owner-occupied house price index (OOHPI) partly overlap the scope of the house price indices (HPI).
The outputs of the statistical activity are coherent. Higher-level aggregations are derived from detailed indices according to pre-defined procedures.
The data revision policy and notification of corrections are described in the section Principles of dissemination of official statistics of the website of Statistics Estonia.
The published data may be revised if the methodology is modified, errors are discovered, new or better data become available.
Dwelling price index is based on administrative data.
In addition to administrative data, the owner-occupied housing price index is based on the construction price index survey data and survey-based data (sample size 27).
Dwelling transaction data are received from the Estonian Land Board.
DATA FROM OTHER STATISTICAL ACTIVITIES
Data from statistical activities 20401 “Construction Price Index”, 21401 “National accounts (annual)” and 21302 “Financial statistics of insurance enterprises (monthly)” are used.
Administrative data are received from the Estonian Land Board by e-mail.
Statistics Estonia collects survey data by direct survey.
See also 20401 “Construction price index”.
The input data are checked and, if necessary, specified with data source. The data are compared with the data of previous periods and other relevant sources (both internal and external).
On the bases of collected data Laspeyres-type price indices are calculated. For calculating lower level indices the geometric mean of prices is used.
Microdata are aggregated to the required level.