Prices of Dwellings in Housing Companies
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Housing 2020 Prices of dwellings in housing companies 2020, November Strong upswing continued in dwelling transactions in November According to Statistics Finland's preliminary data, prices of old dwellings in housing companies rose by six per cent in Greater Helsinki in November compared with the previous year. Elsewhere in the country prices remained on last year's level. Compared to October, prices went up in Greater Helsinki by 1.7 per cent and fell in the rest of the country by 1.3 per cent. Nearly one fifth more transactions of old dwellings in housing companies were made through real estate agents than one year ago. Development of prices of old dwellings in housing companies by month 2015–2020M11, index 2015=100 Compared with the corresponding period of the year before, prices of old dwellings in housing companies rose in Southern, Northern and Western Finland and fell in Eastern Finland. Helsinki 30.12.2020 Quoting is encouraged provided Statistics Finland is acknowledged as the source. Development of prices of old dwellings in housing companies by month in Major regions 2015–2020M11, index 2015=100 According to preliminary data, in large towns prices rose in Helsinki, Tampere, Espoo and Oulu compared to last year. Compared to last year's November, prices fell in Vantaa and were on level with the previous year in Turku. In Turku prices have fallen in recent months compared with spring and the development of prices has been different compared to Helsinki and Tampere. Development of prices of old dwellings in housing companies by month in large cities in 2015 to 2020M11, index 2015=100 When examining the data for greater Helsinki, Helsinki, Turku and Tampere, the lower level of the indices one year ago should be taken into account. In January to November, the numbers of dwelling transactions made through real estate agents have risen in Espoo and Oulu and in the surrounding municipalities and fallen most in Turku. According to preliminary data, dwelling transactions amounting to EUR 12 billion were made in January to September, which is around five per cent more than one year ago. In Greater Helsinki, the value of transactions is around seven per cent and in the rest of the country around two per cent higher than in the previous year. 2 Prices per square metre of old dwellings in housing companies, November 20201) Area Price, EUR/m² Index 2015=100 Monthly change, % Yearly change, % Whole country 2,207 104.7 0.2 3.0 Greater Helsinki 3,999 116.1 1.7 6.0 Rest of the Country (whole country - Greater Helsinki) 1,687 94.7 -1.3 0.0 Satellite municipalities2) 2,180 95.9 -0.1 2.8 Helsinki 4,652 121.4 2.5 8.2 Espoo-Kauniainen 3,708 109.0 1.3 4.5 Vantaa 2,808 105.5 -1.4 -1.6 Tampere 2,649 111.9 -1.8 7.0 Turku 2,214 109.7 -3.8 0.1 Oulu 1,748 101.8 5.1 4.0 1) Preliminary data 2) Satellite municipalities = Hyvinkää, Järvenpää, Kerava, Kirkkonummi, Nurmijärvi, Riihimäki, Sipoo, Tuusula and Vihti When the monthly statistics on prices of dwellings in housing companies are published, they cover approximately 70 per cent of all transactions made in the latest statistical month. The monthly data become revised during the following months so that the final data for the year are published in the release concerning the first quarter of the following year. Further information about data revisions can be found in separate tables. Starting from March 2020, the data used in the statistics on prices of old dwellings in housing companies are the Tax Administration's data on dwellings (data on ownership of dwellings in housing companies). Data on dwellings should not be used to assess the activity of transactions in the latest period. The numbers and selling times of old dwellings in housing companies sold through real estate agents are based on the data from the price monitoring service of the Central Federation of Finnish Real Estate Agencies 3 Contents Tables Appendix tables Appendix table 1. Unencumbered average prices per square metre of old blocks of flats, November 2020..............5 Appendix table 2. Unencumbered average prices per square metre of old terraced houses, November 2020............5 Revisions in these statistics.........................................................................................................................................6 Quality Description: Prices of dwellings in housing companies.................................................................................7 4 Appendix tables Appendix table 1. Unencumbered average prices per square metre of old blocks of flats, November 20201) Area Price, EUR/m² Index 2015=100 Monthly change, % Yearly change, % Whole country 2,337 108.4 -0.1 2.8 Greater Helsinki 4,324 119.8 1.1 7.1 Rest of the country (whole country - Greater Helsinki) 1,656 95.2 -1.8 -2.6 Satellite municipalities2) 1,903 93.3 1.6 -2.8 Southern Finland 2,749 113.3 -0.1 4.3 Western Finland 1,934 99.1 -1.5 -1.9 Eastern Finland 1,463 82.4 1.2 -2.9 Northern Finland 1,552 96.2 3.1 0.9 Helsinki 5,019 123.3 1.7 8.1 Espoo-Kauniainen 3,761 112.0 -1.8 6.1 Vantaa 2,633 105.9 0.4 -0.1 Tampere 2,724 112.6 -3.4 2.7 Turku 2,136 109.3 -9.0 -0.7 Oulu 1,902 100.0 1.7 1.9 1) Preliminary data 2) Satellite municipalities = Hyvinkää, Järvenpää, Kerava, Kirkkonummi, Nurmijärvi, Riihimäki, Sipoo, Tuusula and Vihti Appendix table 2. Unencumbered average prices per square metre of old terraced houses, November 20201) Area Price, EUR/m² Index 2015=100 Monthly change, % Yearly change, % Whole country 2,062 99.6 0.6 3.1 Greater Helsinki 3,512 109.0 2.9 3.8 Rest of the country (whole country - Greater Helsinki) 1,719 94.1 -0.8 2.7 Satellite municipalities2) 2,384 97.4 -1.0 6.1 Southern Finland 2,451 103.8 1.4 3.5 Western Finland 1,913 96.1 1.1 3.5 Eastern Finland 1,292 76.2 -9.2 -1.8 Northern Finland 1,500 97.7 2.0 3.8 Helsinki 3,660 113.8 5.7 8.4 Espoo-Kauniainen 3,672 107.0 3.5 3.4 Vantaa 3,019 105.3 -3.1 -3.0 Tampere 2,517 110.6 1.4 15.8 Turku 2,416 110.5 8.6 1.7 Oulu 1,623 103.5 8.3 6.1 1) Preliminary data 2) Satellite municipalities = Hyvinkää, Järvenpää, Kerava, Kirkkonummi, Nurmijärvi, Riihimäki, Sipoo, Tuusula and Vihti 5 Revisions in these statistics The data of the statistics have become revised according to the tables below. For more information about data revisions, see section 3 of the quality description. Revisions to data on monthly changes in prices of dwellings in housing companies, monthly statistics1) Area and reference time Monthly change, % Revision, percntage point Latest release 30.12.2020 1st release Whole country 07/2020 1.3 1.4 -0.1 08/2020 -1.0 -1.1 0.1 09/2020 0.4 1.3 -0.9 10/2020 0.0 0.0 0.0 Greater Helsinki 07/2020 0.7 1.2 -0.5 08/2020 -0.7 -1.2 0.5 09/2020 0.8 1.4 -0.6 10/2020 -0.2 -0.0 -0.2 Rest of the country 07/2020 1.9 1.6 0.3 08/2020 -1.4 -1.0 -0.4 09/2020 0.0 1.3 -1.3 10/2020 0.3 0.1 0.2 1) The 1st release refers to the time when data for the reference period were released for the first time. The revision describes the difference of monthly change percentages between the latest and first release. Revisions to data on annual changes in prices of dwellings in housing companies, monthly statistics1) Area and reference time Annual changes, % Revision, percentage point Latest release 30.12.2020 1st release Whole country 07/2020 1.3 1.0 0.3 08/2020 0.6 0.1 0.5 09/2020 2.2 2.2 0.0 10/2020 2.8 2.8 0.0 Greater Helsinki 07/2020 2.9 3.4 -0.5 08/2020 2.5 2.1 0.4 09/2020 5.0 5.2 -0.2 10/2020 3.8 4.1 -0.3 Rest of the country 07/2020 -0.4 -1.3 0.9 08/2020 -1.3 -1.8 0.5 09/2020 -0.6 -0.7 0.1 10/2020 1.8 1.4 0.4 1) The 1st release refers to the time when data for the reference period were released for the first time. The revision describes the difference of annual change percentages between the latest and first release. 6 Quality Description: Prices of dwellings in housing companies 1. Relevance 1.1 Information content and purpose of use The statistics on Prices of dwellings in housing companies describe the unencumbered prices per square metre of old dwellings in housing companies, and monthly, quarterly and annual changes in them. For new dwellings data will be published quarterly and annually. The statistics contain data classified by area and type of building for the examined month and for a longer time period. The purpose of the statistics is to provide information about price development on the housing market. 1.2. Concepts, classifications and data The data and the data suppliers: Old dwellings: The data of the statistics on dwelling prices are based on the price information gathered by the Finnish Tax Administration for asset transfer tax calculation purposes.