Macroeconomic scoreboard 2006 - 2013
| Periods | Deflated house prices (%) |
|---|---|
| 2013* | -7.8 |
| Source: CBS. | |
Table explanation
To identify in a timely manner existing and potential imbalances and possible macroeconomic risks within the countries of the European Union in an early stage, the European Commission has drawn up a scoreboard with eleven indicators. This scoreboard is part of the Macroeconomic Imbalance Procedure (MIP). This table contains quarterly and annual figures for these eleven indicators for the Netherlands.
Data available from 2006 to 2013.
Status of the figures:
Annual and quarterly data are provisional. Because this table is discontinued, figures will not be updated anymore.
Changes as of July 10th 2014:
None, this table is discontinued.
When will new figures be published?
Not applicable anymore.
This table is replaced by table Macroeconomic scoreboard. See paragraph 3.
Description topics
- Deflated house prices
- Deflated house prices, % change on one year previously.
Deflated house prices are the ratio between the house price index on the one hand and the deflator for household consumption on the other.
The house price index shows the average price development of all own (i.e. non-rental) homes, both existing and newly constructed, which are intended for permanent residence by a private household.
The deflator for household consumption reflects average price developments in consumption expenditure by households (including non-profit institutions serving households). This deflator is similar, but not identical, to the consumer price index (CPI).
Sources:
The house price index is calculated by Statistics Netherlands (CBS). Statistics Netherlands does not yet publish the house price index used here, but does publish a price index of existing residential property on a quarterly basis. See the website of Eurostat for more information about the house price index.
The deflator for household consumption is derived from Statistics Netherlands’ national accounts.
Calculation of the scoreboard indicator:
The house price index is divided by the deflator for household consumption. Subsequently the percentage change with respect to one year previously is calculated.
Interpretation of the indicator:
The indicator compares the development of house prices with the development of the average consumer prices for households. Positive growth means that house prices are rising faster than consumer prices. In time, this may indicate a price bubble in the housing market.
Upper and lower limits:
For this indicator, the European Commission has set only an upper limit: +6 percent.