The accumulated fall since the maximums achieved is below 40% for the second consecutive month, at 39.9%
Another zone which has maintained its prices from a year ago is the “Mediterranean Coast”, which went up 1.3% from last April. On the other hand, the “Metropolitan Areas” and the “Remaining Municipalities” continued to show lower average price changes compared to a year ago, with annual falls of 2.6% and 1.4%, respectively.
Price changes since the maximums continue below 40%
The accumulated drop regarding the newly built house compared to previous maximums at the end of 2007 is, for the second month running, below 40%. The area showing the least average drop since those maximums is the “Balearics and Canaries” (-27.8%) and in smaller municipalities (“Remaining municipalities”),with a fall of 36.7%. The biggest accumulated change in prices is to be found in the “Mediterranean Coast” (-46%), followed by the “Metropolitan Areas” (-45.9%) and the “Capitals and Large Cities ” (-41.7%).
Accumulated price variation since April 2016
In the first four month of 2017, the “Mediterranean Coast” is the zone where average prices have risen highest, at 5.4% so far this year. This positive trend has also been observed in the “Capitals and large Cities” with an increase of 4.3% between January and April, and the islands (“Balearics and Canaries”), with an increase of 4.1%.The change in average prices in the first four months of 2017 has been practically stationary in the “Remaining Municipalities” (+0.4%) and is down in the “Metropolitan Areas” (-2.1%).
One in every two managers in real estate believes that house prices at national level will grow between 3% and 6% in 2017, when in 2016 only 21% believed this to be the case.
The average price of a completed house (new and used) ended 2016 with an increase of 1.7% in December compared to the previous year.
House prices (new and used) will increase by 3% on average in 2017, estimates ST Sociedad de Tasación.
Due to our annual leave, we will resume our news services in September.
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