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Published: 26 October 2012

Prices of dwellings rose slightly in September

According to Statistics Finland’s preliminary data, prices of old dwellings in blocks of flats and terraced houses went up by 0.7 per cent in the whole country in September compared with the previous month. In Greater Helsinki, prices went up by 0.7 per cent and in the rest of the country by 0.8 per cent.

Compared with the corresponding period of the previous year, prices rose by 2.1 per cent in the whole country. In Greater Helsinki, prices went up by 2.5 per cent and in the rest of the country by 1.8 per cent.

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

In September 2012, the average price per square metre of an old dwelling in a housing company was EUR 2,125 in the whole country, EUR 3,357 in Greater Helsinki and EUR 1,642 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. For further information about data revisions, see a separate table. 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 third quarter

In the third quarter of 2012, prices rose in the whole country by 1.1 per cent from the previous quarter. In Greater Helsinki, the growth amounted to 1.4 per cent and in the rest of Finland to 0.8 per cent. Compared with the corresponding period of 2011, prices went up by 1.8 per cent. In Greater Helsinki, prices went up by 2.3 per cent and in the rest of the country by 1.4 per cent.

Development of prices of old dwellings, index 2005=100

In July-September, the average price per square metre of an old dwelling in a housing company was EUR 2,232 in the whole country, EUR 3,466 in Greater Helsinki and EUR 1,676 in the rest of Finland.

Prices of new dwellings in blocks of flats and terraced houses rose by 0.6 per cent from the previous quarter in the whole country. In Greater Helsinki, as well as in the rest of Finland, prices rose by 0.6 per cent.

Compared with the corresponding period of the year before, prices of new dwellings rose by 4.6 per cent in the whole country. In Greater Helsinki, the growth amounted to 7.4 per cent and in the rest of Finland to 3.1 per cent. The average price per square metre of new dwellings was EUR 3,375 in the whole country, EUR 4,608 in Greater Helsinki and EUR 2,931 in the rest of Finland.

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, Petteri Rautaporras 09 1734 3472, asuminen@stat.fi

Director in charge: Kari Molnar

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Reviews

• 1. Prices of old dwellings in blocks of flats rose in the July to September period (26.10.2012)
• 2. Prices of dwellings in terraced houses rose slightly in the July to September period (26.10.2012)
• 3. Changes in prices of dwellings and in earnings level (26.10.2012)
• 4. House price development elsewhere (26.10.2012)

Tables

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• Database tables and their variables
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Appendix tables

• Appendix table 1. Unencumbered average prices per square metre of old dwellings in housing companies, September 2012 (26.10.2012)
• Appendix table 2. Unencumbered average prices per square metre of blocks of flat, September 2012 (26.10.2012)
• Appendix table 3. Unencumbered average prices per square metre of terraced houses, September 2012 (26.10.2012)
• Appendix table 4. Unencumbered average prices per square metre of old dwellings in housing companies, August 2012 (26.10.2012)
• Appendix table 5. Unencumbered average prices per square metre of old dwellings in housing companies, July, 2012 (26.10.2012)

Figures

• Appendix figure 1. Average prices per square meter of dwellings in old blocks of flats (26.10.2012)
• Appendix figure 2. Average prices per square meter of dwellings in old terraced houses (26.10.2012)
• Appendix figure 3. Price development of old and new dwellings from 2005 (26.10.2012)
• Appendix figure 4. Changes in prices of dwellings in major cities, 3rd quarter 2012 (26.10.2012)
• Appendix figure 5. Real Price Index of dwellings in old blocks of flat 1970=100 (26.10.2012)

Quality descriptions

• Quality Description (26.10.2012)

Revisions in these statistics

• Revisions in these statistics (26.10.2012)

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Updated 26.10.2012