The cumulative decline increased by 5 tenths in September to 32.9%. Capitals and Major Cities recorded the highest fall compared to other areas.
The IMIE General Index recorded a year-on-year decline of 11.6% in September, similar to the previous month, pushing the index down to 1532 points. The cumulative decline in house prices since the top of the market in December 2007 was exactly 32.9%.
In terms of the performance of the different areas, “Capitals and Major Cities” recorded the steepest year-on-year decline with 13.5%.
The remaining areas all fell below the average with very similar year-on-year figures. The largest price falls were in “Other Municipalities” with 10.9%, followed by “Mediterranean Coast” with 10.8% year-on-year, “Metropolitan Areas”, with 10.4%, the same as the previous month, and lastly the “Balearic and Canary Islands” with a figure of 10%.
In terms of the cumulative declines by area since the top of the market, the fall in prices in the “Mediterranean Coast” reached 39.2% in September; followed by 36% for “Capitals and Major Cities”, 33.2% for “Metropolitan Areas”, 28.6% for the “Balearic and Canary Islands” and 28.5% for “Other Municipalities”, which comprises all those not included in other categories.