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House prices down in Q4 last year but still high compared to 2021

13:25 - 04 April 2023

Economy

The House Price Index reached 108.03 units in the fourth quarter of 2022, dropping 4% compared to the third quarter when it was at 112.51, according to CyStat.

However, compared to the corresponding quarter of 2021, when it was at 103.44, the Index was up by 4.4% in the fourth quarter of 2022.

The House Price Index measures the change in the average prices of residential housing units on a quarterly basis. It captures all types of residential properties, both new and existing. The land component of the residential property is included.

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