Notaries: House Sales & Prices Rose In Q2 By 14.2% & 5%, Respectively

31 October 2017 – El Mundo

House sales rose by 14.2% on average during the second quarter of 2017 with respect to the same period in 2016, to exceed 142,000 transactions, whereby moderating the YoY increase experienced in the previous quarter (20.3%) by six points, according to data from the General Council of Notaries.

By type of dwelling, flat sales recorded a YoY increase of 15.3% during the second quarter of 2017, and whereby accumulating 14 consecutive quarters on the rise. In terms of prices, the average cost of homes purchased during the second quarter was €1,387/m2, up by 5% YoY. Meanwhile, the price of flats (in general) rose by 5.6% YoY to €1,529/m2.

According to the Notaries, the sale and purchase of homes rose in every autonomous region during the second quarter of 2017, with the exception of the País Vasco, where sales fell by 0.4% YoY. The highest increases were recorded in the autonomous regions of La Rioja (25.9%), Asturias (21.6%) and Castilla-La Mancha (19.6%).

In terms of house prices, they decreased in Murcia (4.3%), Cantabria (3.7%), Aragón(0.5%) and Castilla y León (0.3%) but rose in the remaining 13 regions, in particular in Navarra (17.7%), Castilla-La Mancha (11.1%), Cataluña (9%) and the Canary Islands (8.9%).

On the other hand, the number of new mortgages granted in the second quarter of 2017 fell by 2.4% with respect to the same period in 2016, after having increased by 7.8% YoY during the first quarter.

Original story: El Mundo 

Translation: Carmel Drake