1. 1 Owner-Occupied Housing Summary of the pilot Item 5 of the Agenda D4 – Price Statistics HICP Working Group Luxembourg 23-24 October 2007

2. OOH 2 Summary of the pilot 1.Manual 2.Data 3.Evaluation 4.Stage 3 of the pilot 5.Legal basis

3. OOH 3 MANUAL Technical Manual on OOH –Focus on “how to technically compile the index” –Build the manual around COICOP OOH and Net Acquisition –More coherence with HICP principles  Version 1.4: well developed, can be used by MSs in the final phase Handbook on Real Estate Price Indices –Describe the methods and sources currently employed –An inventory of national practises –Identification of different uses of HPIs and definition of their target indices

4. OOH 4 DATA Within the pilot following price index series were to be produced: –All dwellings index New dwellings index Existing dwellings index –Additional acquisition cost index –HICP including OOH index –Building land price index (by DE and SI only) –Additionally, UK and NL provided construction cost indices combined with necessary weighting information enabling Eurostat to calculate EU aggregates

5. OOH 5 Series available to Eurostat CYDEELESFIFRITNLPLSISKUK 1 All dwellings * * 2 New dwellings 3 Existing dwellings ** 4 Acquisition costs 5 HICP inclusive OOH * can be derived, ** delivered upon request

6. OOH 6 Graph 1: UK series

7. OOH 7 Graph 2: FI series

8. OOH 8 Graph 3: DE series

9. OOH 9 Graph 4: NL series

10. OOH 10 Graph 5: New dwellings – UK, FI, NL, DE

11. OOH 11 Graph 6: Old dwellings - FR, UK, FI, NL, DE

12. OOH 12 Old dwellings – CY, EL, PL, SI, SK New dwellings – CY, EL, PL, SK

13. OOH 13 Data - conclusions Result of the pilot is positive – the data gives good basis for analysis of the net acquisition approach in general Data gaps exists – as reported beforehand –Not all series delivered –Short series in some cases –Additional acquisition costs needs sharpening –More effort needed in the fields of land prices and major repairs Need for continued efforts -> pilot stage 3 participation Eurostat will produce aggregate experimental series by the end of 2007

14. OOH 14 Evaluation Eurostat’s evaluation underway Based on the final reports and the OOH questionnaire Eurostat will continue with the evaluation as follows: –Evaluation at Eurostat – finished after one week –Countries' check of the evaluation – 10 working days –SG comments – 5 working days –Synthesis by Eurostat – 5 working days A meeting with the pilot countries to discuss the evaluation results and the manual (Proposal: end November – early December)

15. OOH 15 Stage 3 of the pilot – final phase AIM Widest possible coverage so that every EU MS would have tested the concept in practise and would be ready for a regular provision of data in end-2009 TOOLS Methodology –Manual –Treatment of land; econometric study on separation of the land price component from the total dwellings price Grants –common programme, know-how sharing, support Implementing regulation?

16. OOH 16 Stage 3 of the pilot – final phase GRANTS: 3A: CY, DE, EL, ES, FI, NL, SI, SK, (FR, IT, PL, UK) (8/12) –Final evaluation of the applications; on Thursday –Agreements signed; mid-November 3B: AT, BE, IE, LU, PT (5); –Call for proposals out; end-October –Applications in; end-November –Agreements signed; before end-December 3C: BG, CZ, DK, EE, HU, LT, LV, MT, RO, SE (10) –Call for proposals out; early 2008