Poland - House Price Index

Poland: House Price Index

Mnemonic HPI.IPOL
Unit Index 2010=100, SA
Adjustments Seasonally Adjusted
Quarterly 4.12 %
Data 2021 Q2 144.67
2021 Q1 138.94

Series Information

Source National Bank of Poland
Release Real Estate Market Quarterly Report
Frequency Quarterly
Start Date 9/30/2006
End Date 6/30/2021

Poland: Real Estate

Reference Last Previous Units Frequency
Building Permits Aug 2021 26,848 28,845 #, NSA Monthly
House Price Index 2021 Q2 144.67 138.94 Index 2010=100, SA Quarterly
Residential Building Permits 2020 107,590 101,595 # Annual
Dwelling Stocks 2019 14,812,774 14,615,112 # Annual
Building Completions 2016 98,949 100,492 # Annual
Non-residential Building Completions 2016 23,072 23,829 # Annual
Residential Building Completions 2016 75,877 76,663 # Annual

Release Information

Housing prices in the primary and secondary markets, offer prices, trans-action prices and hedonic prices relies on data from a housing market survey of the Real Estate Market Database (BaRN). As part of the new survey of commercial real estate, Commercial Real Estate Market Database (BaNK) data on rent, offer prices and transaction prices of commercial real estate are collected.

The data for the new and existing market presents the average prices per square meter of housing, both offer and transaction, for the 16 capital cities of voivodeships and Trójmiasto. Also the average prices for the 7 and 10 cities, weighted with the market housing stock of the city, are shown.

  • Measurements:
    • Moving-base index relative to corresponding period of previous year
    • Moving-base index relative to previous period
    • Areal price of Polish zloty per square meter (PLN per m2)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Quarterly
  • Start date: As early as 2006Q3
  • Geo coverage:
    • Country
    • NUTS 3 Trójmiejski (IPOL_GDK)
    • 17 major cities (IPOL_aannnn)
    • Five city-composites (IPOL, identified in description metadata)

The source writes:

The hedonic price of housing reflects the "pure" price, that is the price that results from other factors than the quality of hous-ing. In this study, the hedonic price is an average price from the base period multiplied by the hedonic index. The price re-flects an average level of prices of a specific housing samples from the base period (a fixed housing basket), after inclusion of the "pure" change in price of homes sold in consecutive periods. The hedonic price stated in the report says what the average price of the fixed home sample from a specific reference period would be, considering the real "pure" change in transaction prices. The difference between the hedonic index used to determine the hedonic price and the average or the median price growth is that the index does not react strongly to any change in the quality of homes sold over a certain period, (for instance the hedonic index should respond less to a larger number of small apartments with a higher price per square meter than the average or median price index).

Composites and aggregates:

  • Trójmiasto
    • Aggregate of Gdansk, Gdynia and Sopot
  • Seven-city composite
    • Gdansk, Gdynia, Lódz, Kraków, Poznan, Warszawa, Wroclaw
  • Seven-city composite without Warszaw
    • Gdansk, Gdynia, Lódz, Kraków, Poznan, Szczecin, Wroclaw
  • Nine-city composite
    • Bialystok, Bydgoszcz, Katowice, Kielce, Lublin, Olsztyn, Opole, Rzeszów, Zielona Góra
  • Ten-city composite
    • Bialystok, Bydgoszcz, Katowice, Kielce, Lublin, Olsztyn, Opole, Rzeszów, Szczecin, Zielona Góra

Moody's Analytic supplements

We compute seasonally adjusted counterparts to the areal prices. We construct fixed-base indexes with a base year of 2010, in NSA and SA terms.

Subject to a few revisions. The index base year is periodically advanced.