Residential Property Price Index (RPPI) — Training Program

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Residential Property Price Index (RPPI) — Training Program

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Bibliographic details

• Published: July 29, 2025

Topic and scope

• Topic: Macroeconomic Statistics
• The course identifies the key uses of RPPIs; reviews data sources and methods for compiling RPPIs; and outlines strategic issues for country-specific application.
• Emphasis on evaluating alternative data sources in terms of:
  • coverage
  • timeliness
  • richness in terms of supporting a quality-mix methodology
  • suitability of a price measure
  • weighting
• Trade-offs involved in selecting data sources are considered, as are strategies for longer-run development of data sources.
• The course follows the principles of the 2013 Handbook on RPPIs published by Eurostat, International Labor Organization (ILO), IMF, Organization for Economic Co-operation and Development (OECD), United Nations Economic Commission for Europe (UNECE), and the World Bank.

Target audience and qualifications

• Target audience:
  • Mid-level to senior officials and compilers responsible for, or planning to introduce or develop, a residential property price index (RPPI).
• Qualifications:
  • Participants are expected to have a degree in economics or statistics; or equivalent experience.

Methodological focus

• Core methodological problem:
  • The quality-mix problem: a change in the mix of properties transacted each period can bias measures of change in average prices.
• Main mix-adjustment methods emphasized:
  • Stratification
  • Hedonic regression
• Interactivity:
  • Interactive workshops address stratification and hedonic regression topics.
• Integration of issues:
  • The course highlights how data source and methodological issues are intertwined.

Learning outcomes (course objectives)

• Upon completion of this course, participants should be able to:
  • Explain the nature and uses of RPPIs.
  • Identify the strengths and weaknesses of possible data sources for RPPIs.
  • Select the most appropriate method for RPPI compilation based on the availability of data.
  • Apply different methods for compiling RPPIs.
  • Make recommendations, where necessary, for the further development of data sources.

References

• Core Elements of Banking Supervision (CBS)
• Advanced Government Finance Statistics (GFS-A)
• Fiscal Sustainability (FS)
• Safeguards Assessments of Central Banks (SAC)