The price of housing starred in the second quarter of their first annual increase since the first quarter of 2008 after rising 0.7% in Andalusia and 0.8% in Spain, a fact that the experts consulted interpreted with caution as an incipient turnaround that vary widely by geographic area.
The data in green National Statistics Institute (INE) have joined those who met last week the Association of Registrars and also marked the first increase in six years, with a rise of 1.5%.
According to the latest data released yesterday, the Housing Price Index (HPI) rose by more than two points during the second quarter, leading to its first positive reading on year for the first time six years. The advance was mainly due to the thrust of the new housing, 2.4% in Andalusia encareción, compared with 0.2% of the equipment.
With all this, experts believe that although it is early to speak of a recovery, housing prices tend to stabilize after a 2013 black for the sector.
However, the data is very heterogeneous, since, although in some areas of large cities the price adjustment seems to have come to an end, in other still has a long journey.
The housing prices began to become cheaper in the second quarter of 2008, a decline that brought an end to the trend of increases that occurred during the years of the “boom” experienced by the Spanish real estate sector in the years of greatest splendor of the economy.
Then prices came even increased over 13% in the first quarter of 2007 Back in the second quarter, in the whole of Spain the prices came up about 2% – 1.9% in the case of new housing, which is three more than in the previous quarter. With this rise, the price of new housing reached positive territory for the first time since the fourth quarter of 2008 Meanwhile, the price of second-hand housing rose two points, to 0.2%, the highest since the fourth quarter of 2007.
According to region, the major annual increases staged Madrid and Valencia, where housing prices rose 2.7% and 2.3%, respectively.
On the opposite side, prices continued to decline in nine other communities and Ceuta. The largest decreases were in Navarra, with a fall of 6.1%, in Extremadura, a decrease of 3.5%.
“These are encouraging data, but to be taken with caution because there are uncertainties in the residential market that have not dissipated: a major oversupply and weak demand even in a difficult economic environment,” said Efe economist and director of consulting Horizone, Julio Gil.
“The evolution of the market is closely linked to that of the main macroeconomic, growth and employment variables, and they depend largely on how to continue to evolve,” added from Tinsa appraisal company, also ask caution in analyzing data that vary greatly by location.
“We could say that this is a nascent turnaround but the path towards the consolidation is still long and there are still areas where soil has not been touched,” said the director of the research bureau of homes real estate portal com, Manuel Gandarias.
A view shared from fotocasa.es: “It’s early to talk about turnaround in prices Although in some areas of large cities adjustment seems to have come to an end, in other yet. has a long journey. ”
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