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Press release

House prices (provisional) - Q3 2022

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 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 third quarter of 2022, the HPI (see Italian IPAB) decreased by 1.0% compared with the previous quarter and increased by 3.0% compared with the same quarter of the previous year (it was +5.2% in the second quarter).

The increase on annual basis of HPI was due to both the prices of new dwellings that increased by 2,8% (slowing compared to the +12.1% of the second quarter) and the prices of the existing ones (which account for more than 80% of the aggregate index) which rose by 3.0%.

The increase of HPI occurred in a context of a slowdown of the growth of the volume of sales, as it was +1.7% the annual rate of change registered by the Observatory of Real Estate Market belonging to Tax Office for the residential sector in the third quarter of 2022 (from +8.7% in the previous quarter).

The decrease on quarterly basis of HPI was mainly due to the prices of new dwellings that recorded a decrease of 5.4%, after the speed-up of the previous quarter (+6.8%); the prices of existing dwellings also decreased but to a lesser extent (-0.1%).

On average, in the first three quarters of 2022, compared to the same period of 2021, the house prices increased by 4.2%, with the prices of new dwellings that increased by 6.6% and those of the existing ones that grew by 3.7%.

Reference period: Q3 2022

Date of Issue: 16 December 2022

Next release: 16 march 2023



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