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Published: 27 July 2012

Prices of dwellings almost unchanged in June

According to Statistics Finland’s preliminary data, prices of dwellings in old blocks of flats and terraced houses remained almost unchanged from the previous month in the whole country. In Greater Helsinki, prices went up by 1.1 per cent, while in the rest of the country prices went down by 0.6 per cent.

Compared with the corresponding period of the previous year, prices rose by 1.1 per cent in the whole country. In Greater Helsinki, prices went up by 2.8 per cent, while in the rest of the country prices went down by 0.3 per cent.

Development of prices of old dwellings by month, index 2010=100

In June 2012, the average price per square metre for an old dwelling in a housing company was EUR 2,162 in the whole country, EUR 3,467 in Greater Helsinki and EUR 1,650 elsewhere in the country.

When the monthly statistics on prices of dwellings are published they cover approximately 40 per cent of all transactions made in the latest statistical month. The monthly data become revised during the following months so that the final data for the year are published in the release concerning the first quarter of the following year. The base year of the monthly index is 2010. Data by area starting from 2010 are available in the StatFin service: http://pxnet2.stat.fi/PXWeb/pxweb/fi/StatFin/StatFin__Asu__ashi/?tablelist=true (in Finnish only).

Prices of dwellings in the second quarter

In the second quarter of 2012, prices rose in the whole country by 0.5 per cent from the previous quarter. Prices remained unchanged in Greater Helsinki but rose by 1.0 per cent in the rest of the country. Compared with the corresponding period of the previous year, prices rose by 0.6 per cent in the whole country. In Greater Helsinki, prices went up by 0.7 per cent and in the rest of the country by 0.5 per cent.

Development of prices of old dwellings, index 2005=100

In the second quarter of 2012, the average price per square metre for an old dwelling in a housing company was EUR 2,214 in the whole country, EUR 3,397 in Greater Helsinki and EUR 1,680 elsewhere in the country.

Prices of new dwellings in blocks of flats and terraced houses rose by 4.0 per cent from the previous quarter in the whole country. In Greater Helsinki, prices went up by 4.0 per cent and in the rest of the country by 3.9 per cent.

Compared with the corresponding period of the year before, prices of new dwellings rose by 6.1 per cent in the whole country. In Greater Helsinki prices rose by 8.5 per cent and in the rest of the country by 4.9 per cent. The average price per square metre of new dwellings was EUR 3,324 in the whole country, EUR 4,580 in Greater Helsinki and EUR 2,872 in the rest of the country.

The deviations between the results of the monthly and quarterly statistics are caused by that the monthly statistics are produced with a less detailed regional division and the monthly statistics have a different weight structure than the quarterly statistics. The base year of the quarterly index is 2005.

Source: Prices of Dwellings, Statistics Finland

Inquiries: Petri Kettunen 09 1734 3558, Tomi Martikainen 09 1734 3632, asuminen@stat.fi

Director in charge: Kari Molnar

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Reviews

• 1. Prices of dwellings in old blocks of flats fell slightly in Greater Helsinki in the April to June period (27.7.2012)
• 2. Prices of old dwellings in terraced houses rose slightly in April-June (27.7.2012)
• 3. Changes in prices of dwellings and in earnings level (27.7.2012)
• 4. House price development elsewhere (27.7.2012)

Tables

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Appendix tables

• Appendix table 1. Unencumbered average prices per square metre of old dwellings in housing companies, June 2012 (27.7.2012)
• Appendix table 2. Unencumbered average prices per square metre of blocks of flat, June 2012 (27.7.2012)
• Appendix table 3. Unencumbered average prices per square metre of terraced houses, June 2012 (27.7.2012)
• Appendix table 4. Unencumbered average prices per square metre of old dwellings in housing companies, May 2012 (27.7.2012)
• Appendix table 5. Unencumbered average prices per square metre of old dwellings in housing companies, April 2012 (27.7.2012)

Figures

• Appendix figure 1. Average prices per square meter of dwellings in old blocks of flats (27.7.2012)
• Appendix figure 2. Average prices per square meter of dwellings in old terraced houses (27.7.2012)
• Appendix figure 3. Price development of old and new dwellings from 2005 (27.7.2012)
• Appendix figure 4. Changes in prices of dwellings in major cities, 2nd quarter 2012 (27.7.2012)
• Appendix figure 5. Real Price Index of dwellings in old blocks of flat 1970=100 (27.7.2012)

Quality descriptions

• Quality Description (27.7.2012)

Revisions in these statistics

• Revisions in these statistics (27.7.2012)

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Updated 27.7.2012