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INE: House Sales Increased By 24.2% In August

7 October 2015 – Expansión

House sales rose by 24.2% YoY in August to register 12 consecutive months of increases.

29,369 operations were signed in August, and as a result, this indicator recorded 12 consecutive months of increases, driven exclusively by the second-hand market, according to the Property Transfer Statistics published by INE* yesterday.

The YoY increase in August was 10.3 points higher than the rise in July, when house sales grew by 13.9%.

With the rise in August, house sales recorded 12 consecutive months of YoY increases, driven exclusively by the rise in the sale of second-hand homes.

79.8% of the operations registered in August related to second-hand homes, with 23,428 transactions, representing a YoY rise of 50.5%; meanwhile, the sale of new homes dropped by 26.5% to 5,941 operations.

During the first eight months of the year, house sales have recorded a 12% increase, with the sale of new homes registering a 35.7% decrease and the sale of second-hand homes enjoying a 43.9% increase.

If we consider the monthly data in isolation (August versus July), house sales fell by 10.2%, but that represents an improvement on the decrease of 17.7% experienced in August 2014.

Sales growth was highest in Murcia and Aragón

In August, the highest number of house sales per 100,000 inhabitants was recorded in the Community of Valencia (110).

In absolute terms, Andalucía continued to lead the house sales ranking during the eighth month of the year, with 5,984 operations, followed by the Community of Valencia (4,335), Cataluña (4,286) and Madrid (4,242).

In relative terms, the highest YoY variations were recorded in Murcia (49.9%) and Aragón (39.5%). Castilla y Leon was the only autonomous region to record negative rates, with a decrease of 0.5%. (…).

*The data published by INE relates to purchases recorded in the property registers resulting from the public deeds signed in the months preceding the reference month.

Original story: Expansión (by M. Castillo)

Translation: Carmel Drake