The average price of a house in Spain up 1.8% in February

The average price of a finished house (new and used) continued in a positive vein at the beginning of the year with a year on year growth of 1.8% in February.

“The Balearics and Canaries”, with an increase of 4.4% compared to the same period in the previous year, and the “Capitals and large cities”, with 3.4%, continue to drive the market. The latter have quickened the positive development of prices in February. If in January the average price was 1.5% higher than at the close of 2016, in the first months of the year in total the increase rose to 3.5%, according to the latest índice Tinsa IMIE General y Grandes Mercados.

In February, all the groups analysed experienced price increases compared to the year before, with the exception of the “Mediterranean Coast”, where the price went down 0.3% in the last twelve months. Compared to the year on year growth of 4.4% in the “Balearics and the Canaries” and the 3.4% in the “Capitals and large cities”, development was practically zero in the “Metropolitan Areas” and the smaller localities (“Remaining Municipalities”), both with an increase year on year of 0.2%.

All the groups analysed in the index showed a level of prices higher than that at the close of the 2016 financial year. “The Balearics and Canaries” have seen their average values increase by 4.4% in the total of the first two months of 2017, followed by the “Capitals and large cities”, with 3.5 % In the  “Mediterranean Coast” and the  “Remaining Municipalities” the increase is about 1% in this part of the year (+0.9% and +0.8%, respectively). The increase in the “Metropolitan Areas” is 0.3% since the close of 2016.