Revisions to HPI series for Q1 2021
14 February 2023
Correction to House Price Index (HPI) data for March 2021 quarter
We have made minor corrections to the HPI data for the March 2021 quarter, published in February 2021. The following 2 data points have been revised:
- J1. House price index — 1 year out
- J2. House price index — 2 years out
The table below shows the original published data in February 2021 and the revised data:
| House price index | House price index | |
| J1. 1 year out | J2. 2 years out | |
| Unit | % | % |
| Series ID | SOE.Q.E480.na | SOE.Q.E481.na |
| ORIGINAL MAR 2021 DATA | 8.02 | 4.71 |
| REVISED MAR 2021 DATA | 7.96 | 4.70 |
The error was caused due to an incorrect calculation. The corrected series are available in the Survey of expectations – M14 (1987 – current) data file (XLSX 28.55 KB).
We are an open and transparent organisation and correct errors as soon as practicable. We regret the error and apologise for any inconvenience caused.
If you have any questions, please contact us at [email protected].
Additional time series added to M14
RBNZ has published two additional series in the M14 table on our website, sourced from our Survey of Expectations (Business):
- C3. mean OCR Expectations ten years ahead, and
- C4. mean OCR Expectations (10 year average).
We published these series on 20 September 2022 with data starting from 2020 Q3 up until the most recent data in 2022 Q3.
The series description on the website will also be updated to reflect the addition of these two series and provide more clarity around the methodology used to calculate these series.
The background notes and series descriptions on the table provide more information about data and survey methodology.
If you have any questions, please contact us at [email protected].