Residential Property Price Indices (RPPI)
Source details
- Canonical URL
- Residential Property Price Indices (RPPI)
Other formats
Bibliographic details
- Session: JV 23.14
- Location: Vienna, Austria
- Dates: May 22-26, 2023 (1 week)
- Delivery method: In-person Training
- Primary language: English
- Interpretation language: Russian
- Status: Deadline passed
Training program overview
- Session No.: JV 23.14.
- Location: Vienna, Austria.
- Date: May 22-26, 2023 (1 week).
- Delivery Method: In-person Training.
- Primary Language: English.
- Interpretation Language: Russian.
- Target audience: Mid-level to senior officials and compilers responsible for, or planning to introduce or develop residential property price indexes (RPPI).
- Qualifications: Participants are expected to have a degree in economics or statistics; or equivalent experience.
Course description and scope
- Presented by the Statistics Department of the IMF.
- Identifies key uses of RPPIs and reviews data sources and methods for compiling RPPIs.
- Emphasizes evaluating alternative data sources for RPPI compilation in terms of:
- coverage,
- timeliness,
- richness in terms of supporting a quality-mix methodology,
- suitability of a price measure,
- weighting.
- Considers trade-offs in selecting data sources and strategies for longer-run development of data sources.
- Methodological emphasis:
- The quality-mix problem: changes in the mix of properties transacted each period can bias measures of change in average prices.
- Mix-adjustment methods: stratification and hedonic regression are the main methods addressed.
- Interactive workshops cover mix-adjustment topics.
- Methodological guidance follows the principles of the 2013 Handbook on RPPIs published by Eurostat, ILO, IMF, OECD, UNECE, and the World Bank.
- Practical compilation advice draws on the 2020 RPPI Practical Compilation Guide published by the IMF.
- COVID-19 delivery note: courses may be delivered in person, hybrid, or virtual according to safety guidelines; the May 22-26, 2023 course was scheduled for in-person delivery in Vienna but delivery method may change. By submitting an application, participants confirm availability to participate either in person or virtually. Up-to-date Covid-19 vaccination is likely to be required and related information may be requested from participants for in-person courses.
Course objectives (learning outcomes)
Upon completion of the 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.