The rapid increase in house prices in the past few years, including during the COVID-19 pandemic, raises concerns about housing affordability. The price-to-income ratio is a widely-used indicator of affordability, but does not take into account important factors such as the cost of financing....

This technical assistance report highlights residential property price index (RPPI) mission in Bangladesh. The authorities should compile an experimental RPPI for Dhaka using a single preferred method that follows international best practice. The Bangladesh Bank (BB) should implement the...

Residential house prices in Cyprus show no signs of overvaluation in international comparison, and various indicators confirm that prices are aligned with economic fundamentals. However, still-high household debt poses a risk. Regional disparities raise some concerns about affordability, notably...

The second phase of the G-20 Data Gaps Initiative and guidance on financial soundness indicators identify the residential property price index (RPPI) as a critical ingredient of financial stability policy analysis and macroprudential measures. At the request of the National Statistics Office of...

A technical assistance (TA) mission was conducted from January 15-19, 2024, to assist the National Bank of Cambodia (NBC) with the further improvement of their Residential Property Price Index (RPPI). The mission was conducted under the auspices of the Data for Decisions (D4D) Trust Fund. The...

England has very volatile house prices. We use pseudo-panel data spanning multiple house-price cycles over nearly forty years, to assess the extent to which house prices affect access to home ownership by age thirty, and whether differences in ownership rates persist. We find that ownership...

A technical assistance (TA) mission was conducted from January 22–26, 2024, to assist the Bangko Sentral ng Pilipinas (BSP) with the development of hedonic methods for their property price statistics. The mission’s primary focus was the Residential Property Price Index (RPPI). The mission...

In housing crises, high mortgage debt can feed a vicious circle of falling housing prices and declining consumption and incomes, leading to higher mortgage defaults and deeper recessions. In such situations, resolution policies may need to be adapted to help contain negative feedback loops while...