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French home price indices published by the National Institute of Statistics

publié le 10 mars 2013 (modifié le 30 novembre 2016)

Methodology

The National Institute of Statistics (INSEE) has been publishing for many years the Notaires-INSEE existing-home price indices.
In addition, since January 2013, INSEE has been publishing new- and both new- and existing- home price indices.

The new-home price index is published by INSEE quarterly based on the ECLN survey. It covers exclusively dwellings sold by housebuilders. Thus, it does not cover dwellings built by individuals on plots of land they already own, case which is common in France (the EPTB survey provides on a yearly basis information on the construction cost of these dwellings as well as on the price of the land plots they are built on).
The new- and existing-home price index published by INSEE is a weighted average of the Notaires-INSEE existing-home price index and the INSEE new-home price index. Therefore it doesn’t cover either dwellings built by individuals of plots of land they already own. In this weighted average, the weight of the Notaires-INSEE existing-home price index is dominant (around 8/9).
The INSEE new- and both new- and existing- home price indices are not corrected for seasonal variations, whereas the Notaires-INSEE existing-home price index is published both corrected and not corrected for seasonal variations. Seasonality may be different for new and existing homes.
Comparing the changes in the Notaires-INSEE existing-home price index, the INSEE new-home price index and the INSEE both new- and existing- home price index is complex, due to differences in methodology and seasonality.

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