According to the National Bank of Hungary’s house price index, prices increased annually at a nominal rate of 15.7% and by 11.7% in real terms in the third quarter of 2018 compared with the same period last year. A gauge of the market by the National Bank of Hungary (NBH) shows that in Budapest prices rose by 23.5% nominally and by 19.2% in real terms, above the national average in both cases. The pace of price increases picked up in every quarter from the end of 2017. In Q3 in cities prices rose by 17.3% nominally and by 13.2% in real terms while the rate for smaller settlements was 5% and 1.3%, respectively. Outside Budapest the annual rate of price increase was fastest in cities in the Southern Great Plains, where prices rose by 19.9% nominally and by 15.8% in real terms.