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OWNER OCCUPIED HOUSING

Statistics Directorate    
Definition:
Dwellings owned by the households that live in them. The dwellings are fixed assets that their owners use to produce housing services for their own consumption, these services being usually included within the scope of the CPI. The rents may be imputed by the rents payable on the market for equivalent accommodation or by user costs.

Context:
The imputed rents of these housing services should be valued at the estimated rent that a tenant pays for a dwelling of the same size and quality in a comparable location with similar neighbourhood amenities.

When markets for rented accommodation are virtually non-existent or unrepresentative, the value of imputed rents has to be derived by some other objective procedure such as the user-cost method.

Eurostat, OECD, 2007, Eurostat-OECD Methodological Manual on Purchasing Power Parities, OECD, Paris – Annex VII, Glossary of terms and abbreviations.

Source Publication:
ILO, IMF, OECD, Eurostat, UNECE, World Bank, 2004, Consumer Price Index Manual: Theory and Practice, International Labour Office, Geneva.

Cross References:
Rental equivalence
User cost

Hyperlink:
http://www.ilo.org/public/english/bureau/stat/guides/cpi/index.htm

Statistical Theme: Prices and purchasing power partities

Created on Thursday, February 20, 2003

Last updated on Thursday, July 12, 2007