Template-Type: ReDIF-Paper 1.0

Author-Name: Ádám Banai
Author-X-Name-First: Ádám 
Author-X-Name-Last: Banai
Author-Email: banaia@mnb.hu
Author-Workplace-Name: Magyar Nemzeti Bank (Central Bank of Hungary)

Author-Name: Nikolett Vágó
Author-X-Name-First: Nikolett
Author-X-Name-Last: Vágó
Author-Email: vagon@mnb.hu
Author-Workplace-Name: Magyar Nemzeti Bank (Central Bank of Hungary)

Author-Name: Sándor Winkler
Author-X-Name-First: Sándor
Author-X-Name-Last: Winkler
Author-Email: winklers@mnb.hu
Author-Workplace-Name: Magyar Nemzeti Bank (Central Bank of Hungary)



Title: The MNB’s house price index methodology


Abstract: This study presents the detailed method of the MNB’s house price index and the results of the new price
indices. The index family is considered to be a novelty among Hungarian housing market statistics in several
regards. Firstly, the national index was derived from a database starting in 1990, and thus the national index is
regarded as the longest in comparison to the house price indices available so far. The long time series allows
us to observe and compare the real levels of house prices across several cycles. Another important innovation
of this index family is its ability to capture house price developments by region and settlement type, which
sheds light on the strong regional heterogeneity underlying Hungarian housing market developments.



Length: 56 pages
Creation-Date: 2017
File-URL: http://www.mnb.hu/letoltes/mnb-op-127-vegleges.pdf
File-Format: Application/pdf
Number: 2017/127
Classification-JEL: C430, R210, R310
Keywords: hhousing market, house price index, hedonic regression
Handle: RePEc:mnb:opaper:2017/127