Second quarter house price index up 4.8 percent ({{commentsTotal}})

A house under renovation in Pärnu. Photo is illustrative.
A house under renovation in Pärnu. Photo is illustrative. Source: (Urmas Luik/Pärnu Postimees/Scanpix)

According to information released by Statistics on Friday, the second-quarter house price index (HPI) increased by 0.3 percent compared to the first quarter of 2017 and 4.8 percent on year.

Compared to the previous quarter, apartment prices increased by 0.1 percent and the prices of houses by 0.8 percent.

Compared to the second quarter of last year, apartment prices have increased by 5.1 percent and house prices by four percent, with apartment prices increasing by five percent in Tallinn, 7.7 percent in areas bordering Tallinn as well as in Tartu and Pärnu, and by 0.4 percent in the rest of Estonia.

The house price index expresses the changes in square meter prices of transactions made by households for the purchase of single-family dwellings, including apartments and detached, semi-detached and terraced houses.

In the second quarter of 2017, the Owner-Occupied Housing Price Index decreased by 1.7 percent compared to the first quarter of 2017 and increased by three percent on year.

The Owner-Occupied Housing Price Index expresses the changes in the prices of the acquisition of dwellings new to the household sector and other goods and services that households purchase in their role as owner-occupiers. The index consists of four parts: the acquisition of dwellings, other services related to the acquisition of dwellings, major repairs and maintenance, and insurance connected with dwellings.

The Owner-Occupied Housing Price Index is published on the base 2010 = 100. The time series begins from the first quarter of 2005; major repairs and maintenance are included from the first quarter of 2007 and insurance connected with dwellings is included from the first quarter of 2012.

Editor: Aili Vahtla



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