Eurostat and National Statistical Institutes (NSIs) have been undertaking a series of pilot projects to develop and compile housing price indices for Owner-Occupied Housing (OOH) in the framework of the HICP. As a key step towards producing the set of housing indicators, work has been done on the development of House Price Indices (HPIs).
These papers provide the experimental results from this research work, experimental house price indices for the EU, the euro area, Iceland and Norway, and explain their strengths and limitations.
Macroeconomic Imbalance Procedure Scoreboard - February 2012
The Macroeconomic Imbalance Procedure (MIP) Scoreboard was released February 2012 and is an early warning system for surveilling macroeconomic imbalances. The alert system is established based on a scoreboard consisting of a set of ten indicators covering the major sources of macroeconomic imbalances.
In the context of the fundamental role played by housing markets in the current economic and financial crisis, the European Commission designated the House Price Index as one of the indicators in the MIP Scoreboard.
House Price Indices data used in the Scoreboard are taken from the experimental HPI data available in the HPI publications, for those Member States where data is publicly available in the HPI release. Data missing for certain countries in the experimental publication have also been included in the Scoreboard based on other non-harmonised sources. That data will progressively be replaced by harmonised HPI data, as it becomes available.
