Date of last update: April 04, 2013
To consult the Informations Rapides for this indicator :
Source1 : Insee - Division "Logement"
Source2 : Chambre des Notaires de Paris
Indices in the new base 100 for the first quarter of 2010
The results of the Notaries-INSEE indices for the 4th quarter of 2007 to the 3rd quarter of 2011 are published in the new base ("version 3 of the indices"). The methodology used was validated by the Scientific Council for Notary Public-INSEE Indices (CSIN). As with previous versions, it is based on models which break down housing prices in terms of the contributions of their characteristics. To do this, the territory is divided for each type of property (apartments and houses) into elementary zones (around 300) within which housing price changes can be considered as homogenous. With the help of econometric models, the coefficients measuring the impact of each physical characteristic are estimated within each of the zones. They serve to estimate, using observed transactions, the prices of the housing in question for which the characteristics are fixed throughout the time. The price changes of the housing units in question are then used to calculate elementary price indices. The aggregated indices are calculated using the changes in elementary indices, taking into account the weight of each elementary index within the housing stock in question.
Roughly every five years, the Notaries-INSEE indices for the prices of old homes are updated. This update aims on the one hand to bring the coefficients used to calculate indices up to date, and on the other hand is an opportunity to introduce methodological improvements. In the new version, the division of the territory into elementary zones has been completely reviewed. Moreover, the specification of the econometric models has been refined. Additionally, the coefficients used in the index calculations will be more frequent updated (every two years). The method for calculating the aggregated indices using elementary indices has also been reviewed. In particular, chain-linking of the changes has been introduced
This renewed methodology, as well as the use of more complete data about the past has led the CSIN to announce revisions to the indices previously published for the years 2008-2011. These revisions are set out in the table below.
2010 - 2011
|Metropolitan France - Apartments||43.3||-0.2||0.7||0.2||0.1||-1.1||0.9|
|Metropolitan France - Houses||56.7||-0.9||0.2||-3.7||-0.8||0.7||1.1|
|Île-de-France - Apartments||21.2||-0.5||0.6||-0.8||-0.3||-1.4||0.8|
|Île-de-France - Houses||10.1||-1.1||0.4||0.3||0.3||-0.4||1.3|
|Province - Apartments||22.0||0.0||0.7||0.9||0.5||-1.0||1.1|
|Province - Houses||46.6||-0.7||-0.2||-4.7||-1.2||1.0||1.2|
The geographical scope is Metropolitan France.
The indices refer to old homes in the fiscal sense, which is to say more than 5 years old or having undergone a transfer. In order to avoid atypical transactions, non-standard housing such as rooms, lofts, workshops, or châteaux, as well as the acquisitions carried out by property professionals are not included in the calculations. Additionally, we only include properties which are:
The old homes prices indices for Île-de-France are calculated by the company Paris Notaires Services (PNS) and INSEE using property transaction data contained in the BIEN (Notarial Economic DataBase) database, which belongs to and is managed by PNS and funded by notaries from Île-de-France.
The old homes price indices for the provinces are calculated by the company Perval and INSEE using data from property transactions contained in the Perval database and funded by notaries from the provinces.
The old homes price indices for the whole of Metropolitan France are calculated by the company Parvel and INSEE using data from property transactions contained in the data bases managed by Perval and PNS.
Two agreements have been signed between INSEE and PNS on the one hand, and between INSEE, the Higher Notary Council and Perval on the other, to define the methodology for calculating the indices using notarial data as well as the methods for the publication of indices.
The Notaries-INSEE old homes indices provide a measure for the constant-quality changes in the prices of old homes. The price retained is the seller's net price, excluding land transfer tax, notary fees and agency commission.
The provisional indices of quarter Q and the final indices of quarter Q-1 are published in the following quarter in the Informations rapides. The index series are also individually available on INSEE's website, sections: Databases > Statistical indices and series. The methodology of the second version of indices is described in detail in « Les indices Notaires Insee de prix des logements anciens », INSEE Methods n°111 published in 2005..