Statistics Norway

Division for Price Statistics

Statistics Norway P.O. Box 8131 Dep. NO-0033 Oslo NORWAY

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.

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.

Households which are owner occupiers.

The main statistical variables are price indices.

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.

Owner occupied dwellings

Data are available for the country as a whole, there is no regional analysis. In comparison, the national HPI is published for different regions.

The time series of OOHPI start in 2010.

2015=100

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).

OOHPI is a quarterly statistics.

The basic act providing for the compilation of the harmonised indices of consumer prices (HICP) is the European Parliament and Council Regulation (EU) 2016/792 of 11 May 2016. The basic act is implemented by Commission Regulation (EU) 2023/1470 of 17 July 2023.

None.

Data is published up to the level of detail described in the Commission Regulation.

Not relevant.

There is no national publication of the OOHPI. The OOHPI is an aggregate of different existing statistics that is published separately at Statistics Norway’s website such as the national HPI, construction cost index for residential buildings and labour cost indices.

Not relevant.

Not relevant.

Quarterly (OOHPI) and annually (weights)

Not relevant.

Not relevant.

Not relevant.

Micro-data is not disseminated.

Not relevant.

As there is no national dissemination, no documentation on methodology is published.

It is written an internal documentation/publication of the establishment of the OOHPI.

OOHPI is to a large degree based upon already existing statistics which are all checked for completeness and consistency on their own. The aggregation of the different components is following basic HICP procedures and practices. The indices are calculated in SAS and treated consistently. All indices are controlled and reviewed before transmitted to Eurostat. Separate consistency checks are performed.

Not available.

As there is no national dissemination of the data, there is no information on user needs, but the published HPI is widely used by the public sector (the Ministries, Norges Bank, etc) and the financial industry. It is also used by people with an interest in the housing market, for instance private persons, research institutions and the media. The index is an important indicator for sellers and buyers of dwellings as well as for valuation and estate agencies.

No information.

The OOH price indices do not fully meet the specifications set out in the Regulation as the OOH price index of self-built dwellings and major renovations is based on the construction cost statistics and is not consumer prices. 

There are no estimates of overall accuracy of the OOH price indices.

Sampling errors are not calculated.

No quantitative assessments of non-sampling errors are made.

There is no national dissemination of the OOHPI.

The time lag between the end of the period to which the different OOH price indices relate and the production of OOHPI differ according to the different sub-indices. The HPI for new dwellings is available no later than 85 days after the quarter in question. The HPI for existing dwellings can be calculated 2-3 weeks after the quarter in question. The construction cost index is monthly, published normally approx. 10 days after the month in question. 'Major repairs & maintenance' is partly based on labour cost index statistics which is available at the latest approximately 70 days after the quarter in question. Prices of materials are available at the end of the month in question.

Data is delivered to Eurostat on target date.

The OOHPI has no regional breakdown.

The OOHPI has not suffered any breaks in continuity since the start of production. As of 2 quarter 2016 the OOHPI is revised back to 2011 due to a new HPI for new dwellings. Earlier the HPI for existing dwellings has been used as a proxy. 

There are no other national statistics or sources of OOH data.

The HPI for new dwellings is used for OOHPI for new dwellings. Consistency checks (controls of rates of change) are made throughout the editing and calculation process.

The OOHPI is mainly based on already existing statistics. It does involve respondent burden, but data is used for multiple statistics. The time used to fill out web questionnaires (consumer prices of materials) is estimated to approx. 10 minutes per month, more for the construction cost indices.

The annual cost for working on the OOHPI in the Division of price statistics is low.

General HICP data revision policy is followed.

The OOHPI data is not subjected to periodic and systematic revisions. As of 2 quarter 2016 the OOHPI is revised back to 2011 due to a new HPI for new dwellings. Earlier the HPI for existing dwellings has been used as a proxy.

 See below.

Different data sources are used for the OOHPI. The main sources of prices are electronic reporting from large entrepreneurs, transaction data from the real estate sector, construction cost statistics, online price data, HICP, labour cost index statistics and insurance premiums.

External weights are based on National Account (NA) while internal weights are based on administrative data, industry data and HBS. NA weights exclude land value while internal weights include land value.

Some data is collected monthly such as construction costs and consumer prices, while others are collected quarterly.

Data is mainly obtained by electronic data files, through web questionnaires or collected online.

Systematic methods are put in place to check and validate the source data.

See below.

See below.

OOHPI is a Laspeyres-type price index.

The index is aggregated from the lowest level (elementary aggregate) and directly up to the respective aggregates including the OOHPI total

Sub-index and elementary aggregate weights are based on national accounts data. Reference period is t-2 for sub-index weights. OOHPI weights are updated yearly.

We assume t-2 figures are representative of t-1, but we price update to the price reference period fourth quarter. 

The OOH index is an annually chained index, chained in the fourth quarter t-1, i.e. fixed price reference period is the fourth quarter t-1.

See below.

Index of newly built multi-dwelling houses: first binding contract Index of newly built detached houses: price when dwellings are registered completed and notified Existing dwellings new to households: first binding contract.

VAT is included in the price of newly built dwellings.

Other taxes are not included in the price of dwellings.

Not relevant.

Land is included in the price measurement of the OOHPI, but not in the weights (Net weight gross price approach.)

Housing cooperatives are included. Price measured is transaction price + share of the joint debt.

Non-market transactions are excluded from the OOHPI.

Multi-object transactions are not included in our population.

Shares in housing cooperatives is included in the OOHPI sub-indices for purchases of newly built dwellings and existing dwellings new to households.

See below.

First prices are aggregated into regional indices by using unweighted geometric mean (Major repair and maintenance)

Index of real estate agency fees are weighted by company and region, Laspeyre type index. For the insurance index, average prices are weighted by company, Laspeyre type index. 

For major repair and maintenance, variety replacement is done on a regular basis, and if necessary, quality adjustments are made.

Representative products are reviewed on an annual basis, and updated if necessary.

Implicit quality adjustments are made using imputation methods. Overall mean imputation.

Partial or total non-response per web questionnaire may occur. Imputed prices based on similar representative products are used.

Discounts are included. 

Cases of zero prices have not been relevant.

VAT is included in the observed prices

None.

None.