The house price index rose 6.6% year on year in the second quarter of this year, up 1.4 percentage points from the previous quarter, the National Institute of Statistics (INE) reported on Wednesday, Sept.22.
Prices for new homes increased more (6.9%) than for existing homes (6.5%).
Prices also rose from the previous quarter, with the index up 2.2% (versus 1.6% in the first quarter).
Despite the acceleration observed in the same quarter of last year, INE says that “in the second quarter of 2021, the average annual rate of change” in the house price index was 6.9%, which corresponds to a slowdown of 0.2 percentage points. compared to the previous quarter ”.
Transactions reach a maximum maturity of 12 years
On the other hand, 52,800 homes were sold between April and June this year, the highest quarterly figure since at least the beginning of 2009, a date that marks the start of the INE series.
This was mainly due to the sale of existing homes (86% of the total), with the number of such transactions also being the highest since the beginning of the series.
This is 58% more compared to the same period last year, the increase is partly due to the underlying effect caused by the pandemic.
“This significant increase is partly due to an underlying effect, given that the year-on-year comparison covers the April to June 2020 period, a period characterized by significant restrictions on economic activity as a result of COVID-19 containment measures. a pandemic that implied the lowest number (and cost) of transactions since the 3rd quarter of 2016, ”explains INE in a review published today.
There was indeed a drop in the second quarter of last year, but the data presented now, as mentioned above, is higher than in the period before the pandemic.
The value of houses sold was about 8.6 billion euros, up 66.5% over the same period last year. The cost is also the highest in at least twelve years.
News updated at 11:22 am with more information
