HOX® Price Index

The guide to housing market price movements

HOX® Price Index is one of Sweden’s most reliable and comprehensive tools for monitoring price trends in the housing market. Developed by Valueguard in collaboration with KTH and Nasdaq OMX, the HOX Price Index provides a detailed and quality-adjusted picture of price trends for both condominiums and villas. This index is based on data from real estate agents, where approximately 95% of all brokered transactions in the country are included in the data material, which ensures that the HOX Price Index follows the real movements of the market.

The HOX Price Index is available for tenant-owned apartments and houses in Sweden, Stockholm, Gothenburg, Malmö and medium-sized cities. There is also a combined index for tenant-owned apartments and houses in Sweden. By adjusting for changes in the types of homes sold during different periods, the HOX Price Index provides a fair picture of the market’s development regardless of whether there are many or few sales in attractive areas.

In addition to HOX, Valueguard produces more than 2000 local house price indices to monitor local markets. For real estate professionals, banks, analysts and public authorities, Valueguard’s house price indices are indispensable tools. They can be used to analyze market trends, assess risks, index portfolios and make informed decisions in a changing housing market. Thanks to the precision and credibility of Valueguard’s indices, they are also used by Statistics Sweden as part of the Swedish Consumer Price Index and distributed through platforms such as Macrobond. Indices can also be accessed via API or index packages sent out as files.

The HOX Price Index gives you access to insights that allow you to navigate the housing market with greater confidence and accuracy. Whether you are a real estate agent, banker, investor or analyst, the HOX Price Index can help you understand and act on market changes.

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Why the HOX price index?

Reliable price data

In a dynamic and complex housing market, the availability of reliable price data is crucial for understanding market trends and making informed decisions. Traditional price indices, based on average or median prices, can often be misleading as they do not take into account variations in housing quality, size or location. The HOX Price Index, based on a hedonic model, offers a more accurate and reliable picture of price developments in the housing market.

Quality adjusted for better decisions

The HOX Price Index adjusts for the unique characteristics of homes such as size, number of rooms, monthly payment and location. This means that the index provides a more accurate picture of real price developments, unaffected by changes in market supply or specific types of homes sold in different periods. By including these factors, the HOX Price Index avoids the misrepresentations often found in simpler price indices based on mean or median prices.

Built on transactional data for increased accuracy

The HOX Price Index is based on real transaction data from real estate agents, which makes it possible to capture actual market developments. The HOX Price Index uses the exact time of contract signing, providing a more timely and accurate picture of market movements than indices based on reporting dates.

Stability and reliability over time

Research shows that hedonic indices, such as HOX, offer a more stable and reliable picture of market price developments over time compared to simpler indices. This makes the HOX Price Index an invaluable tool for banks, real estate analysts and other stakeholders who need predictable and reliable data for their analysis and decisions. Thanks to its stability and precision, the index is a reliable tool for risk assessment and economic forecasting.

Improving financial products and risk assessment

The HOX Price Index provides a robust and accurate basis for analyzing housing prices and developing financial products linked to housing market developments. Its stability and precision make it a reliable tool for risk assessment and economic forecasting.

Navigating the housing market with confidence

The HOX Price Index provides a robust and accurate basis for analyzing housing prices and developing financial products linked to housing market developments.

Deep dive and more information

If you want to get a deeper understanding of the HOX hedonic price model, KTH has published a thesis by Han-Suck Song and Mats Wilhelsson “Improved price index for condominiums“. You can find it here:

https://www.diva-portal.org/smash/get/diva2:248808/FULLTEXT01.pdf

HOX Price Index

Features and benefits

  • Accurate Price Analysis: The HOX Price Index provides a quality-adjusted and reliable picture of price developments for both condominiums and houses.
  • Broker data: The index is based on data from around 95% of all brokered deals in Sweden.
  • Customized Indexes: Valueguard produces over 2000 price indexes that can be accessed via API or different index packages.

Areas of use

The HOX Price Index is used by banks, real estate agents, analysts and authorities to monitor market trends and make informed decisions.

Technical specifications

  • Update frequency: Monthly
  • Data sources: Swedish Estate Agents Statistics, Lantmäteriet, etc.
  • Methodology: Hedonic price model developed with KTH.

Integration and adaptation

HOX Price Index can be easily integrated into internal systems via API and tailored to specific needs.

Price and availability

Available through subscriptions with different levels depending on usage needs. Contact us for more information.

Customer references

“The HOX Price Index is invaluable for understanding market movements.” – Leading banking analyst