Housing 2019 Prices of dwellings in housing companies 2019, July Prices of old dwellings in housing companies rose on annual level in Greater Helsinki and declined in the rest of Finland According to Statistics Finland's preliminary data, prices of old dwellings in housing companies rose compared to July 2018 by about two per cent in Greater Helsinki, while in the rest of Finland they fell by 2.8 per cent. Development of prices of old dwellings in housing companies by month, index 2015=100. The heading of the figure was corrected on 29 August 2019. Compared to June, prices went down by 1.7 per cent in Greater Helsinki and in the rest of Finland by 1.5 per cent. Compared with the corresponding period last year, among large cities, prices of old dwellings in housing companies rose clearly only in Helsinki. In Espoo and Vantaa, the prices remained on level with the previous year. In the other large cities, prices have gone down from last year according to preliminary data. Helsinki 28.8.2019 Quoting is encouraged provided Statistics Finland is acknowledged as the source. The preliminary data comprise, on average, one half of completed transactions of old dwellings in blocks of flats and terraced houses. Particularly in summer months, the number of transactions in the latest release of the monthly statistics may remain lower than usual and be supplemented in the coming months. The price development should also be examined over a longer period than one month. According to data available to Statistics Finland, 31,902 transactions of old dwellings in housing companies were made in the whole country in January to July, which is on level with the previous year. In Greater Helsinki the number of known transactions is 4.2 higher than in the corresponding period in the previous year. In the rest of the country, the number of known transactions is 1.6 per cent lower than in the previous year (Appendix table 3). Prices per square metre of old dwellings in housing companies, July 20191) Area Price, EUR/m² Index 2015=100 Monthly change, % Yearly change, % Whole country 2,132 102.6 -1.6 -0.4 Greater Helsinki 3,709 110.2 -1.7 2.1 Rest of the country (whole country - Greater Helsinki) 1,660 95.8 -1.5 -2.8 Satellite municipalities2) 2,065 96.2 -3.1 -1.9 Helsinki 4,279 114.0 -1.5 3.1 Espoo-Kauniainen 3,399 104.1 -2.7 0.3 Vantaa 2,720 104.5 -0.5 0.6 Tampere 2,345 103.1 -4.7 -3.8 Turku 2,079 106.2 -3.0 -4.3 Oulu 1,937 96.8 -4.0 -4.9 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 50 per cent of all transactions made in the latest statistical reference 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. It is not recommended to use the latest month’s number of transactions when describing the activeness of trading. 2 Contents Tables Appendix tables Appendix table 1. Unencumbered average prices per square metre of old blocks of flats, July 2019........................4 Appendix table 2. Unencumbered average prices per square metre of old terraced houses, July 2019......................4 Appendix table 3. Number of known transactions of old dwellings in housing companies in the early part of the year..............................................................................................................................................................................5 Revisions in these statistics.........................................................................................................................................6 Quality Description: Prices of dwellings in housing companies.................................................................................7 3 Appendix tables Appendix table 1. Unencumbered average prices per square metre of old blocks of flats, July 20191) Area Price, EUR/m² Index 2015=100 Monthly change, % Yearly change, % Whole country 2,319 107.0 -1.2 1.4 Greater Helsinki 4,031 114.7 -0.6 4.5 Rest of the country (whole country - Greater Helsinki) 1,702 97.8 -2.0 -2.7 Satellite municipalities2) 2,022 96.6 -0.3 0.0 Southern Finland 2,739 111.0 -0.2 3.1 Western Finland 1,805 99.2 -3.7 -3.9 Eastern Finland 1,511 88.6 -4.6 -3.6 Northern Finland 1,708 91.7 -6.7 -5.3 Helsinki 4,637 116.3 -1.3 4.3 Espoo-Kauniainen 3,453 113.2 3.2 7.0 Vantaa 2,606 106.0 -1.1 1.4 Tampere 2,255 102.4 -7.9 -6.3 Turku 2,070 110.2 0.6 -0.4 Oulu 2,195 98.2 -4.0 -1.5 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, July 20191) Area Price, EUR/m² Index 2015=100 Monthly change, % Yearly change, % Whole country 1,930 96.7 -2.1 -2.9 Greater Helsinki 3,229 101.4 -3.8 -2.7 Rest of the country (whole country - Greater Helsinki) 1,618 93.9 -1.0 -3.0 Satellite municipalities2) 2,094 96.0 -4.6 -3.0 Southern Finland 2,275 98.9 -3.1 -3.5 Western Finland 1,747 96.5 1.6 2.3 Eastern Finland 1,286 82.6 -0.2 -6.6 Northern Finland 1,456 93.0 -4.4 -6.9 Helsinki 3,323 104.4 -2.5 -2.6 Espoo-Kauniainen 3,362 98.3 -6.5 -4.0 Vantaa 2,856 103.2 0.2 -0.2 Tampere 2,519 104.7 1.9 1.4 Turku3) . Oulu 1,736 95.5 -4.1 -8.0 1) Preliminary data 2) Satellite municipalities = Hyvinkää, Järvenpää, Kerava, Kirkkonummi, Nurmijärvi, Riihimäki, Sipoo, Tuusula and Vihti 3) . = less than 20 transactions 4 Appendix table 3. Number of known transactions of old dwellings in housing companies in the early part of the year Area Number of sales 01-07/20191) Number of sales 01-07/20182) Whole country 31,902 31,835 Greater Helsinki 9,708 9,315 Rest of the country (whole country - Greater Helsinki) 21,937 22,285 Satellite municipalities3) 1,836 1,853 Southern Finland 18,836 18,452 Western Finland 7,243 7,231 Eastern Finland 2,826 3,116 Northern Finland 2,740 2,801 Helsinki 5,934 5,680 Espoo-Kauniainen 2,130 2,062 Vantaa 1,644 1,573 Tampere 2,176 2,080 Turku 1,805 1,758 Oulu 1,378 1,476 1) The number of asset transfer tax statements received from the Tax Administration by the time of release 2) data published in the previous year 3) 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, percentage point Latest release 28.8.2019 1st release Whole country 03/2019 -0.4 -1.1 0.7 04/2019 0.4 0.4 0.0 05/2019 0.9 -0.1 1.0 06/2019 0.4 0.1 0.3 Greater Helsinki 03/2019 0.0 -1.1 1.1 04/2019 0.3 0.7 -0.4 05/2019 1.0 0.7 0.3 06/2019 1.3 1.0 0.3 Rest of the country 03/2019 -0.8 -1.0 0.2 04/2019 0.5 0.1 0.4 05/2019 0.8 -0.9 1.7 06/2019 -0.4 -0.8 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 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 28.8.2019 1st release Whole country 03/2019 1.2 0.7 0.5 04/2019 0.1 0.0 0.1 05/2019 -0.1 -1.0 0.9 06/2019 0.9 0.6 0.3 Greater Helsinki 03/2019 2.3 1.2 1.1 04/2019 1.7 1.7 0.0 05/2019 0.9 0.5 0.4 06/2019 2.5 2.2 0.3 Rest of the country 03/2019 0.1 0.2 -0.1 04/2019 -1.4 -1.7 0.3 05/2019 -1.1 -2.5 1.4 06/2019 -0.7 -1.1 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.