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To evaluate the current state of the Belgian economy, the FPB regularly updates a series of indicators. The indicators concern the macro-economic stance of the economies of Belgium, its three neighbouring countries and the euro area, as well as the transport industry.

 Indicators : House price index, year-on-year change

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House price index - deflated

year-on-year change, in %


Source: Eurostat, Macroeconomic Imbalances Procedure.


Description: the deflated house price index (or real house price index) is the ratio between the house price index (HPI) and the final consumption deflator. This indicator therefore measures the evolution of inflation in the house market relative to the whole final consumption basket. Eurostat HPI captures price changes of all residential properties purchased by households (flats, detached houses, terraced houses, etc.), both new and existing, independently of their final use and their previous owners. Only market prices are considered, self-build dwellings are therefore excluded. The land component is included. The year-on-year change of this index is included in the Alert Mechanism Scoreboard. The threshold is +6%.

Source: Eurostat, Macroeconomic Imbalances Procedure.

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