House prices and house price valuation indicators

The residential property price indicator for the euro area is an average of non-harmonised country indicators based on data from national sources. It generally includes new and existing dwellings as well as houses and apartments; however, the coverage varies to some extent across countries. It gives an indication of the broad trend-development of residential property prices in the euro area, but does not have the same accuracy as other euro area statistics.

The Harmonised Index of Consumer Prices (HICP) for the euro area is published by the European Commission (Eurostat) and generally available from 1996 onwards. Euro area results are obtained by aggregating indices for individual countries. The HICP is broken down following the European classification of individual consumption according to purpose (ECOICOP) and by goods and services special aggregates derived from it. The HICP covers monetary expenditure on final consumption by resident and non-resident households on the economic territory of the euro area. The seasonally adjusted HICP data are compiled by the ECB.