House prices (provisional)- Q3 2024

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 investment.

According to preliminary estimates, in the third quarter of 2024 the HPI (see Italian IPAB) increased by 0.8% as compared with the previous quarter and by 3.9% compared with the same quarter of the previous year (it was +2.9% in the second quarter 2024).

The increase on annual basis of HPI was due to both the prices of new dwellings which rose by 8.8% (accelerating from +8.1% registered in the previous quarter) and of existing dwellings (+2.8% from +1.8% in the second quarter).

The increase of HPI occured in the context of an increase of the sales volumes (it was +2,7% the annual rate of change registered for the residential sector in the third quarter of 2024 by the Observatory of Real Estate Market belonging to Tax Office, up from +1.2% of the previous quarter).

The increase on quarterly basis of the HPI (+0.8%) was also attributable to both the prices of new and existing dwellings increased by 2.2% and 0.6% respectively.

On average, in the first three quarters of 2024, compared with the same period of 2023, the house prices increased by 2.8% with the prices of new dwellings that increased by 7.4% and those of existing ones that grew by 1.8%.