The recovery in housing prices began to be felt more strongly. Spain broke in the second quarter of the year with six years of cuts to increase prices by 0.8% over the first three months of 2014, according to the report released yesterday by the National Statistics Institute (INE). The Housing Price Index (HPI) also notes that in Galicia rose 2.1%, the fifth community, tied with Castilla-La Mancha, which most increased during this period and crowned as the third in which more increased in So far in 2014 with 2.5%.
Although to date remained in negative numbers, the HPI has been rising over the last year in Spain, from 12% negative marking in the second quarter of 2013 to 0.8% today. This figure also is the first positive that occurs in the country for the last 24 quarters, ie since 2008, when there was a -0.3%. Since then, all results on housing prices had presented negative rates.
+ 0.8% now joins the State + 1.7% from the previous quarter, which translates a rise of 1.4% so far this year. From these data, the price of resale housing rose 0.2% in the second quarter of 2014 year on year, the highest since the fourth quarter of 2007, while the new housing rose 1.9%.
The Galician situation
Galicia is one of the 14 regions that showed positive results in the second quarter compared to the first, and is also the fifth to best figures offered. With the 2.1% reached, the community ties with Castilla-La Mancha, while above are Valencia (+ 3.1%), Florida (2.8%), Murcia (+2, 6%) and Asturias (+ 2.4%). On the other side of the table are the Basque Country (-0.9%), Cantabria (-0.3%) and Balearic Islands (0%).
In addition, in annual terms, Galicia rose 0.1% compared to 2.7% of Madrid Valencia + 2.3% or 1.8% of Cantabria, the three most varied. In contrast, Navarra (-6.1%), Extremadura (-3.5%) and Aragón (-2.3%) were the most fell.
The Galician trajectory in the last year spent of -13% in the second quarter of 2013 to 0.1% today, with a marked slump 10.9% in the last part of last year.
In addition, in so far year, Galicia has accumulated a rise in prices of 2.5%, which places it in the Top3 increases in Spain, behind Valencia (3.2%) and Murcia (3.1 %).
Property type
As reported by the INE, in Galician new prices rose 2.7% in terms the first quarter of the year, placing it as the fourth with a higher rise in the back of Aragon Spain (3.7%), Navarra (3.4%) and Valencia (3.1%). On the other hand, in the annual section, Galicia rose 1.2%, far from the figures shown by Catalonia (8.7%) or Madrid (6.3%). So far this year, Galicia accumulated a 5.2% rise in new home prices.
In the case of resale property in Galicia has been a quarterly increase of 1 8%, ranking it in seventh position tied with Madrid (Valencia was the largest, with 3.1%). While, from a year ago the community rose 0.3%, one of the six who grew up (near Andalusia, Catalonia, Valencia, Madrid and Murcia). So far this year, the housing used in Galicia accumulated a 1.2% increase.
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