Prices - Analytical House Price Indices from the Main Economic Indicators (MEI) database shown in RATIOS Date Type: Qtr; Aggregates: Euro-Area; Indicator: Standardised price-rent ratio - Standardised price-rent ratio; Indicator Description: Standardised price-rent ratio Sage Data. Sage Publishing Ltd Sage Data [electronic resource]

Corporate Author: Organisation for Economic Co-operation and Development (OECD)
Published: Thousand Oaks, CA : Sage Publications, Inc. 2025

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Summary

This subset of the Main Economic Indicators (MEI) database includes house price indices (HPIs) representing index numbers on real house prices, rental prices, and the ratios of nominal prices to rents and to disposable household income per capita. House prices differ widely across OECD countries, both with respect to recent changes and to valuation levels. Real house prices are given by the ratio of seasonally adjusted nominal house prices to the seasonally adjusted consumers' expenditure deflator in each country, from the OECD national accounts database. The rental prices come from the OECD Main Economic Indicators database and refer to Consumer Price Indices (CPIs) for Actual rentals for housing (COICOP 04.1 [Classification of Individual Consumption According to Purpose (COICOP) is an integral part of the 1993 System of National Accounts). If this indicator is missing for a country, another indicator is chosen, typically those corresponding to the CPI aggregate for Housing including Actual rentals for housing (COICOP 04.1), imputed rentals for housing (COICOP 04.2) and Maintenance and repair of the dwelling (COICOP 04.3). The disposable income indicators come from the OECD national accounts database. Net household disposable income is used. The population data come from the OECD national accounts database. The price-to-rent ratio is given by the ratio of nominal house prices to rental prices and provides a measure of the profitability of owning a house. The price-to-income ratio is given by the ratio of nominal house prices to nominal household disposable income per capita, providing a measure of the affordability of purchasing a house. An indication that house prices may be overvalued is provided if either of these ratios is above their long-term averages. The standardized price-rent and price-income ratios show the current price-rent and price-income ratios relative to their respective long-term averages. The long-term average, which is used as a reference value, is calculated over the whole period available when the indicator begins after 1980 or 1980 if the indicator is available over a longer time period. The standardized ratio is indexed to a reference value equal to 100 over the full sample period. Values over 100 indicate that the present price-rent ratio, or price-income ratio, is above its long-run norms. The base year for indices is 2015, where 2015=100. The Organisation for Economic Co-operation and Development (OECD) Main Economic Indicators database provides comparative statistics on OECD member countries and other non-member countries. Data availability varies by nation and by time period. See the technical documentation for information on national practices related to the compilation of data.

Subject(s)

Euro-Area

ISBN

9781544332048 Sage Data CORE

Type of File/Data

Statistical data with bibliographic citation and abstract.

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