Average house price up 1.8% in the first trimester

Average house price up 1.8% in the first trimester

Barcelona and Alicante are, with 12.1% and 11.7%, respectively, the provincial capitals where the average price of a completed house (new and used) has increased most over the past year, according to the report Tinsa IMIE Mercados Locales from the first trimester.  

The Director of the Servicio de Estudios at Tinsa, Jorge Ripoll, stressed that the market is characterised at present by a selective recovery. “The main point is the stabilisation of prices. Although there are places where there are clear signs of recovery, there are others where prices are still very much in a phase of adjustment. Principally, there are enclaves where demand is weak, and the stock is pushing down prices”, states Ripoll.


Cataluña, Madrid and the Canaries lead the growth

Cataluña (+7.5%), Madrid (+6.6%) and the Canaries (+5.3%) are strong in Spain’s housing market, very different from the remaining territories. Also above the national average are Galicia (2.8%), Cantabria (2.7%) and Extremadura (1.9%), which have moderate growth in respect of the same date in the first term of 2016.

The most significant decreases are in la Comunidad Foral de Navarra (-5.6%), the Murcia region (-5.0%), la Rioja (-4.0%) and the Balearics (-3.6%). Also with prices lower than a year ago, although in a more moderate manner, are Castilla-La Mancha (-2.8%), Castilla y León (-2.5%) and, with hardly any change, Asturias (-0.3%).

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