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News: The price of housing softened its rise to 6.2% in the first quarter

12 June 2018

Madrid, Catalonia and the Balearic Islands are the regions where houses became more expensive until March.

The price of housing has grown by 6.2% in the first quarter of 2018, although it has softened its rise compared to the last quarter of 2017.

The price of free housing has softened its growth in the first quarter of 2018, rising to 6.2%, as shown by the Housing Price Index (IPV) published this Thursday by the National Institute of Statistics (INE) . Although the rate is one point lower than in the previous quarter, 16 consecutive quarters of growth in year-on-year rates have accumulated.

Second-hand homes have experienced a higher increase in this first quarter than new homes. In the first case, they have increased 6.3% year-on-year and in the second, 5.7%. Compared to the previous quarter, both rates have moderated their rise: almost one point less and 1.7 points less respectively.

Year-on-year growth in all the Autonomous Communities

Analyzing the data by regions in Spain, all the autonomous communities including the cities of Ceuta and Melilla have registered a growth in the price of housing at an annual rate. The Community of Madrid, with 10.2%, Catalonia, with 8.6%, and the Balearic Islands, with 8.2%, have been the zones that have experienced more accentuated increases. At the other extreme, the regions that have experienced the softest increases are Extremadura, with 0.3%, Castilla-La Mancha, with 0.7% and Navarre, with 2.1%.

With respect to the previous quarter, the price has risen in 15 autonomous communities, highlighting the Community of Madrid (2.8%), Ceuta (2.6%), Aragon (2%), Cantabria (1.9%) and Melilla (1.7%) and Andalusia (0.5%), Comunidad Valenciana (0.7%), Canarias (0.8%) and Navarra (0.9%) the territories that have had a smaller increase. Beyond the growth, the Balearic Islands have registered a decrease of 0.1% quarter-on-quarter and in Asturias prices have been maintained.

Evolution of the price of housing

The purpose of the IPV is to reflect the evolution of housing prices, both new and second hand. It serves as a comparison between the different figures registered in each territory, is compatible with the demands of Eurostat and complements the one published quarterly by the Ministry of Development.

Source: yaencontre.com

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