Owner occupied housing price index (prc_hpi_oo)

National Reference Metadata in Euro SDMX Metadata Structure (ESMS)

Compiling agency: Statistics Netherlands


Eurostat metadata
Reference metadata
1. Contact
2. Metadata update
3. Statistical presentation
4. Unit of measure
5. Reference Period
6. Institutional Mandate
7. Confidentiality
8. Release policy
9. Frequency of dissemination
10. Accessibility and clarity
11. Quality management
12. Relevance
13. Accuracy
14. Timeliness and punctuality
15. Coherence and comparability
16. Cost and Burden
17. Data revision
18. Statistical processing
19. Comment
Related Metadata
Annexes (including footnotes)



For any question on data and metadata, please contact: Eurostat user support

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1. Contact Top
1.1. Contact organisation

Statistics Netherlands

1.2. Contact organisation unit

Producer prices and real estate prices, The Hague

 

1.5. Contact mail address

P.O. Box 24500 | 2490 HA The Hague


2. Metadata update Top
2.1. Metadata last update 26/01/2024
2.2. Metadata last certified 26/01/2024
2.3. Metadata last posted 26/01/2024


3. Statistical presentation Top
3.1. Data description

The OOHPI is based on the ‘net acquisitions’ approach, which measures changes in prices paid by households for the acquisition of dwellings that are new to the household sector and changes in other costs related to the ownership, and transfer of ownership, of dwellings.

3.2. Classification system

The OOHPI is broken down into the following expenditure categories:

  • O.1. Owner-occupiers’ housing expenditure;
    • O.1.1. Acquisitions of dwellings;
      • O.1.1.1. New dwellings;
        • O.1.1.1.1. Purchases of newly built dwellings;
        • O.1.1.1.2. Self-build dwellings and major renovations;
      • O.1.1.2. Existing dwellings new to households;
      • O.1.1.3. Other services related to the acquisition of dwellings;
    • O.1.2. Ownership of dwellings;
      • O.1.2.1. Major repairs and maintenance;
      • O.1.2.2. Insurance connected with dwellings;
      • O.1.2.3. Other services related to ownership of dwellings.
3.3. Coverage - sector

Households which are owner occupiers.

3.4. Statistical concepts and definitions

The main statistical variables are price indices.

3.5. Statistical unit

The basic unit of statistical observation are transaction prices of dwellings new to the household sector and of other products that the households acquire in their role as owner-occupiers.

3.6. Statistical population

The OOHPI covers all prices paid by consumers for the acquisition of dwellings that are new to the household sector as well as other costs related to the ownership, and transfer of ownership, of dwellings. The weights of the sub-indices are equal to the total value of housing expenditure category involved, based on the Net Acquisitions Approach.

3.7. Reference area

The OOHPI covers the entire country. A regional OOHPI is not available.

3.8. Coverage - Time

The time series on OOHPI starts in the first quarter of 2010.

3.9. Base period

2015=100


4. Unit of measure Top

The following units are used:


- Index point;
- Percentage change on the same period of the previous year (rates);
- Percentage change on the previous period (rates);
- Percentage share of the total (weights).


5. Reference Period Top

OOHPI is a quarterly statistics.


6. Institutional Mandate Top
6.1. Institutional Mandate - legal acts and other agreements

Statistics Netherlands is assigned responsibility and authority to produce and provide the OOHPI data by the Dutch Statistics Act. Relevant EU legal act: Commission Implementing Regulation (EU) 2023/1470.

6.2. Institutional Mandate - data sharing

Not applicable.


7. Confidentiality Top
7.1. Confidentiality - policy

Following the Statistics Netherlands Act, Statistics Netherlands cannot reveal any information which can be related to individual persons, households, enterprises or institutions.

7.2. Confidentiality - data treatment

Data is treated as other statistical data in compliance with the Dutch Statistics Act. In the dataset no data is available that can be related to individual persons or households.


8. Release policy Top
8.1. Release calendar

There is a release calendar which is publicly accessible. New figures are released approximately 3 months after the end of the quarter.

8.2. Release calendar access

https://www.cbs.nl/en-gb/publication-calendar

8.3. Release policy - user access

There are no users with pre-publication access to the data.


9. Frequency of dissemination Top

Quarterly (OOHPI), annually (weights) and also monthly dissemination to Eurostat of items O.1.1.2 (Existing dwellings new to households) and O.1.2.1 (Major repairs and maintenance).


10. Accessibility and clarity Top
10.1. Dissemination format - News release

Statistics Netherlands does not publish articles for the OOHPI.

10.2. Dissemination format - Publications

Statistics Netherlands does not publish articles for the OOHPI.

10.3. Dissemination format - online database

Statistics Netherlands publishes the OOHPI figures on a regular basis.

http://opendata.cbs.nl/statline/#/CBS/en/dataset/84307ENG

10.4. Dissemination format - microdata access

The published data are not available in more detail.

10.5. Dissemination format - other

Not available.

10.6. Documentation on methodology

https://www.cbs.nl/en-gb/our-services/methods/surveys/korte-onderzoeksbeschrijvingen/owner-occupiers-housing-expenditures-costs-to-acquire-and-own-2015-100

10.7. Quality management - documentation

ISO-certification: https://www.cbs.nl/en-gb/about-us/organisation/privacy/iso-certification-and-privacy-certification


11. Quality management Top
11.1. Quality assurance

All data are checked for completeness and consistency with statistical concepts and definitions.

11.2. Quality management - assessment

There is no national quality certification for the OOHPI available.


12. Relevance Top
12.1. Relevance - User Needs

Eurostat and other European institutions (ECB) are the only known OOHPI users. The needs of this users are not fully met. A shortcoming of het OOHPI is the frequency. A monthly frequency is desired. We are currently exploring the possibilities.

12.2. Relevance - User Satisfaction

There are frequent expert group meetings on construction and housing statistics.

12.3. Completeness

We consider that the OOHPI fully meets the specifications set out in the Regulation.


13. Accuracy Top
13.1. Accuracy - overall

The HPI for newly built dwellings as part of the OOH data collection is based on a sample survey for newly built dwellings. The types of survey, sampling, and price collection methods are designed to ensure sufficient coverage and timeliness. The accuracy of the HPI for newly built dwellings is assured by structurally monitoring confidence intervals (developed as part of grant number 801923). As the HPI for newly built dwellings has a major weight in OOH, this mostly determines the overall accuracy of the OOH.

13.2. Sampling error

Not available.

13.3. Non-sampling error

Not available.


14. Timeliness and punctuality Top
14.1. Timeliness

The OOHPI is published 85 days after the end of the period to which the OOHPI relates.

14.2. Punctuality

The OOHPI is normally transmitted before the deadline.


15. Coherence and comparability Top
15.1. Comparability - geographical

There are no regional figures available for the OOHPI.

15.2. Comparability - over time

In 2015 the OOHPI suffers from a break in continuity, due to an improvement in the price index for newly built dwellings. The observation data has changed as well as the method (simple stratified mean -> hedonic regression).

15.3. Coherence - cross domain

The HPI for newly built dwellings and the HPI for existing dwellings show similar trends.

15.4. Coherence - internal

Internal coherency is checked by visual comparison.


16. Cost and Burden Top

Statistics Netherlands is not able to provide information.


17. Data revision Top
17.1. Data revision - policy

New figures for the most recent quarter will be provided as provisional data, which will be revised and finalised, if necessary, in time for the following publication and in compliance with Commission Implementing Regulation (EU) 2023/1470

17.2. Data revision - practice

Not applicable.


18. Statistical processing Top
18.1. Source data

See below.

18.1.1. Prices

Administrative data, survey data, statistical domains (national accounts and construction statistics) and other sources are used for the compilation of the indices and the weights. 

18.1.2. Weights

Administrative data, survey data, statistical domains (national accounts and construction statistics) and other sources are used for the compilation of the indices and the weights. 

18.2. Frequency of data collection

All data are collected quarterly except for 'Existing dwellings new to households' and 'Major repairs & maintenance'. The frequency of data collection for these last two is monthly.

18.3. Data collection

The OOHIP source data are obtained by electronic databases which are provided to and by the central NSI office.

No planned changes in data collection in near future.

18.4. Data validation

There is a systematic method for checking and validating the source data only for sub-indices: 'Purchase of new dwellings' and 'Existing dwellings new to households'. All unreliable observations are removed from the database.

18.5. Data compilation

See below.

18.5.1. Calculation and Aggregation

 See below.

18.5.1.1. Index formulae

OOHPI is a Laspeyres-type price index.

18.5.1.2. Aggregation method

Chain linked Laspeyres aggregation

18.5.1.3. Derivation of sub-index and elementary aggregate weights

Elementary aggregate weights for sub-indices are based on national accounts data. The weight reference period is t-2. The frequency of updating the OOHPI weights is yearly.

18.5.1.4. Price updating

The weight reference t-2 is price-updated to the fourth quarter of t-1.

18.5.1.5. Chaining and linking method

The chain linked Laspeyres method described by Eurostat is implemented.

18.5.2. Other processing issues - OOH sub-indices for purchases of newly built dwellings and existing dwellings new to households

See below.

18.5.2.1. Timing for pricing

Purchase of new dwellings: First binding contract (exact date is available).

Self build: Construction index is used as proxy. A new index-method is being developed.

Existing dwellings new to households: Transfer of ownership (exact date is available).

18.5.2.2. Treatment of VAT

VAT is included in the price of newly built dwellings.

18.5.2.3. Treatment of other taxes

Other taxes are not included in the price of dwellings.

18.5.2.4. Treatment of government subsidies

Government subsidies are included but unknown.

18.5.2.5. Treatment of land

Land value is excluded from the weights for newly-built dwellings.

18.5.2.6. Housing cooperatives

All dwellings sold by housing cooperatives to households are covered in the OOHPI.

18.5.2.7. Treatment of non-market transactions

Dwellings transacted by gifts are excluded from OOHPI coverage since there is no actual transaction price. New dwellings which are not sold to natural persons are excluded. Also moveable dwellings, such as houseboats and mobile homes, are excluded.

18.5.2.8. Treatment of multi-object transactions

The source data only contains transactions of one property.

18.5.2.9. Treatment of fractional transactions

The source data only contains transactions of a whole property.

18.5.3. Other processing issues - OOH sub-indices other than OOH sub-indices for purchases of newly built dwellings and existing dwellings new to households

See below.

18.5.3.1. Elementary aggregate formulae

 The elementary aggregate formulae differ per sub-aggregate:

O.1.1.1.1 Purchase of new dwellings - Fisher Hedonic Double Imputation

O1.1.1.2a  Self build - Hedonic Laspeyres Characteristic 

O.1.1.1.2b Major renovations - Hedonic Laspeyres Characteristic 

O.1.1.2 Existing dwellings new to households - SPAR

O.1.1.3 Other services related to the acquisition of dwellings - Jevons

O.1.2.1  Major repairs & maintenance - Jevons

O.1.2.2 Insurance connected with dwellings - Dutot

O.1.2.3 Other services related to ownership of dwellings - Not applicable

18.5.3.2. Replacements

Not applicable

18.5.3.3. Quality adjustment

Purchase of new dwellings: Stratification by dwelling type and region

Self build: Stratification by dwelling type and region

Major renovations:  Stratification by dwelling type and region

Existing dwellings new to households: By Sales Price Appraisal Ratio method

We use existing statistics for sub-aggregates 'Other services related to the acquisition of dwellings' (Service Price Indices) and 'Major repairs & maintenance' (Producer Price Indices).

There is no quality adjustment for 'Insurance connected with dwellings' as the index is a unit value index.

18.5.3.4. Missing prices

Not applicable

18.5.3.5. Discounts and inducements

Not applicable

18.5.3.6. Zero prices

Not applicable

18.5.3.7. Treatment of VAT

Vat is included only for sub-indices Purchase of new dwellings', 'Self build', 'Major renovations' and 'Major repairs & maintenance'.

18.6. Adjustment

No special adjustment methods are used.


19. Comment Top

Considered other changes for this year or next year to the coverage or compilation of OOH, that were not mentioned above: 

The OOH will be realigned in accordance with the new implementing act.

Purchase of new dwellings: Adaptive reuse dwellings will be added to the population

Self build: the compilation will be adjusted

Existing dwellings new to households: The direct calculation will be replaced with an aggregation of strata.


Related metadata Top


Annexes Top