Bank for International Settlements – Property price statistics

by Sabrina I. Pacifici on September 30, 2013

“The property price statistics bring together data from different countries. The BIS, with the assistance of its member central banks, 1 has obtained approval of various national data providers to disseminate the statistics as long as the national sources are clearly indicated. The sources and any relevant disclaimers are listed separately (sources of data). Copyright in these data must be honoured. The property price statistics currently include data from 48 countries, and are available at different frequencies. The data differ significantly from country to country, for instance in terms of sources of information on prices, type of property, area covered, property vintage, priced unit, detailed compilation methods and seasonal adjustment. This reflects two facts. Firstly, that the processes associated with buying and selling a property and hence data available, vary between countries and secondly, that there are currently no specific international standards for property price statistics. However, Eurostat has compiled a Handbook on Residential Property Price Indices under the aegis of the Inter-Secretariat Working Group on Price Statistics. This handbook gives recommendations on best practice for compiling residential property price indices and presents these in the context of the different user needs for such indices. The Handbook builds on work undertaken at a number of international meetings over recent years to identify the requirements for improved data on property prices from an economic, monetary and financial stability perspective. 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” submitted by the Financial Stability Board and IMF to the G20 Finance Ministers and Central Bank Governors (initial report October 2009 and progress report May 2010 and progress report June 2011). This webpage and the related property price database 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. The Property price dataset is updated on a monthly basis at the end of each month.”

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