Tag: cumulative price decrease

Tinsa: House Prices Rose by 3.6% in January

6 February 2018 – El País

House prices rose again in January, in both the new build and second-hand segments. Overall, prices increased by 3.6% with respect to the same month in 2017, according to the appraisal company Tinsa. But the average increase across the country was well below the figures seen in the capitals and large cities as well as in the Balearic and Canary Islands, which recorded the highest price rises of the last 12 months in January, with increases of 5.1% and 4.1%, respectively. In metropolitan areas, the rise amounted to 3.2%, whilst along the Mediterranean Coast, house prices increased by 3%. In small towns, the increase amounted to just 0.9%.

Although average prices in Spain have recovered by 7.6% from the minimum levels reached during the crisis, they are still 38.3% below their maximums of 2007. In fact, the values registered in January place the price of finished homes at June 2013 levels. With respect to the historical maximums, the evolution of the residential market is still slow, in particular along the Mediterranean Coast, where prices are still 47% below their peaks.

The cumulative decrease in metropolitan areas as well as in capitals and large cities is also still above the average, at 43.3% and 39.7%, respectively. The Balearic and Canary Islands are the regions that have performed the best since the crisis, recording a cumulative decrease of 24.1% over the last 10 years, followed by small Spanish towns, with a cumulative decrease of 36.2%.

Original story: El País

Translation: Carmel Drake

Tinsa: House Prices Rose By Just 0.1% In April 2016

11 May 2016 – Expansión

House prices remained stable in April, increasing by just 0.1% with respect to the same month last year, according to Tinsa’s IMIE index.

“The average price of finished homes, both new and second-hand, continued to increase, but in a more moderate way, after registering YoY rises of 0.8% and 2.1% in March and February, respectively”, said the appraisal company.

However, the positive balance continued during the first four months of 2016, with an average increase of 1.9% between January and April. In addition, the index has recorded a cumulative decrease of 41% since the peaks of 2007 and has now returned to the level last seen in Summer 2003.

Metropolitan areas

Following YoY growth of 4.4% in the Mediterranean Coast, the next best YoY movement in April was reported in towns clustered close to metropolitan areas, which in April reported stable prices, in line with those recorded a year ago.

The capital and large cities showed a slight YoY decrease, of -0.2%, followed by the Balearic and Canary Islands, where prices fell by -0.4%. The group of other municipalities (small and medium towns not included in other areas) reported a decrease of -0.9%, although they have performed the best out of all of the groups during the year, with a cumulative increase of 3.8% between January and April.

The average price of homes across every area was higher in April than at the end of 2015. The following areas reported above-average price growth between January and April (for Spain as a whole, the average was 1.9%): other municipalities (+3.9%), the Balearic and Canary Islands (+2.9%) and the Mediterranean Coast (+2.7%). At a slower pace, growth in the metropolitan areas amounted to 1.1% during the first four months of the year and to 0.7% in the capitals and other major cities.

The average decrease in Spain since the peak of 2007 now amounts to 41.1%. The Balearic and Canary Islands (-30.6%) and other municipalities (-35.8%) recorded below-average cumulative decreases. The Mediterranean Coast continued to reduce the difference with respect to the peak of the cycle, with the average cumulative decrease there now amounting to -46.7%, followed by capitals and major cities (-45.1%) and metropolitan areas (-44.4%).

Original story: Expansión

Translation: Carmel Drake