The House Price Index (HPI) measures the evolution of market prices of all residential properties that are purchased by households (flats, detached houses, terraced houses, etc.), both new and existing, independently if bought for own-occupancy or as an investment.
According to preliminary estimates, in the fourth quarter of 2016:
- The House Price Index (see Italian IPAB) was stable compared with the previous quarter and increased by 0.1% in comparison to the same quarter of the previous year (up from -0.9% registered in the third quarter of 2016);
- Prices of new dwellings increased by 0.5% compared to the previous quarter and decreased by 0.1% with respect to the fourth quarter of 2015 (up from -2.0% observed in the previous quarter); prices of existing dwellings decreased by 0.2% compared to the previous quarter and increased by 0.1% with respect to the fourth quarter of the previous year (-0.6% the rate of change
in the third quarter of 2016);
- The average annual rate for 2016 was -0.7% (up from -2.6% in 2015). It was due to the decrease of both prices of new dwellings (-0.9%; in 2015 it was -1.5%) and of prices of existing dwellings (-0.6%, from -3.0% observed in 2015).