Tag: quarterly variation

INE: House Prices Rose By 4.7% In 2016

8 March 2017 – Expansión

House prices rose by 4.7% on average in 2016 with respect to the previous year, their third consecutive annual increase following six years of decreases and the highest rise since 2007, according to the House Price Index (IPV) published today by Spain’s National Institute of Statistics (INE).

By house type, second-hand house prices rose by 4.4% in 2016, to register their highest increase since 2007. In the case of new homes, average prices rose by 6.5% in 2016, also recording their highest rise since 2007.

During the fourth quarter of 2016, private (unsubsidised) house prices rose by 4.5% with respect to the same quarter in 2015, whereby increasing the YoY rise recorded in the third quarter (+4%) by half a point. In this way, house prices recorded eleven consecutive quarters of positive YoY variations.

New house prices rose by 4.3% in Q4 2016 compared to the fourth quarter in 2015, in other words, by three points less than during the previous quarter, whilst second-hand house prices rose by 4.5%, one point above the increase recorded in the previous quarter.

In inter-quarterly terms, private (unsubsidised) house prices rose by 0.4%, in other words, by four tenths less than in the previous quarter. Following this quarterly increase, house prices recorded four consecutive quarters on the rise.

House prices rose last year in every single one of Spain’s autonomous regions, as well as in the cities of Ceuta and Melilla. The most marked price increases were observed in Madrid (up by 8.6%), Cataluña (7%), the Balearic Islands (6.2%), Melilla (5.3%) and Ceuta (5.2%). On the other hand, the lowest increases were recorded in Castilla-La Mancha (0.8%) and Castilla y León (1.1%).

In quarterly figures, private (unsubsidised) house prices decreased in ten autonomous regions as well as in Melilla; they rose in four regions and in Ceuta; and they remained stable in Andalucía, Aragón and the Community of Valencia. The largest decreases were recorded in País Vasco (-1.6%) and Extremadura (-1.5%) and the greatest increases were seen in Madrid (+1.5%) and Cataluña (+1.2%).

Original story: Expansión

Translation: Carmel Drake

Fotocasa: Second-Hand House Prices Increase In 15 CCAA

6 May 2015 – Expansión

The price of second-hand homes increased by 1.1% in April compared to March, after seven months of continuous inter-monthly decreases. The increases were widespread: they were recorded in no less than 43 provinces and 15 autonomous communities, according to statistics from Fotocasa and the IE Business School.

Moreover, house prices increased in April in 460 of the 733 municipalities analysed in this report – 63% of the total, i.e. two thirds. Meanwhile, prices remained stable in 17 municipalities and decreased in 256.

The average cost per square metre of second-hand homes amounted to €1,636 last month. In terms of the quarterly variation, the price of second-hand homes (those aged more than two years old) increased by 0.4% with respect to January 2015.

Second-hand homes got more expensive last month in 15 autonomous communities, i.e. everywhere except for the País Vasco (-0.2%) and Navarra (-0.6%). The greatest increases were recorded in the Canary Islands (up by 3% in just one month) and the Balearic Islands (+2.3%).

This index shows the stabilisation of house prices in Spain. The fact that prices are continuing to increase month after month is an indicator of a trend towards recovery.

The quarterly variation was 0.4%, something not seen since February 2010, a rate that exceeds the variation recorded 12 months ago by 1.8 percentage points.

In terms of the evolution of house prices by province, of the 43 provinces in which price rises were recorded in monthly terms, the highest growth was seen in Toledo (7.4%). Prices decreased in just three provinces: Vizcaya (-0.1%), Navarra (-0.6%) and Palencia (-0.7%). House prices did not vary in four autonomous communities.

Unsellable stock

Meanwhile, BBVA Real Estate’s Research Department said yesterday that the stock of unsold homes is going to decrease significantly, although around 300,000 homes are practically “unsellable”. Despite that, the sector’s contribution to GDP will amount to around 5% in 2015.

Original story: Expansión (by Juanma Lamet)

Translation: Carmel Drake