Housing Price Index Shows Increase

2015 Second Quarter

At the close of the quarter the annual rate of the HPI stands at 4.0%. This represents an increase in house prices to 4.2% when compared with the previous quarter.

Following a decrease of 0.6% over the first quarter of the year, the second quarter finished with a flurry increasing by 2 and a half points from 1.5% to 4.0% with increases showing in both new and resale property.

The index for new properties increased to 4.9%, representing almost one full point increase on the previous quarter, while the index for resale property increaseed 2.7 points finishing the quarter at 3.8%.

The rates also increased across the country with all autonomous communitites registering an increase, other than Castilla La Mancha, where the rate remained at 1.8%.

The greatest increases were shown in Cantabria and the Balaeric Islands with increases of 5.4 and 4.5 points, respectively.

Tinsa Imie Index – September 2012

TinsaThe 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.

House prices continued to fall in August

Property prices continue to fall
Property prices continue to fall

According to new figures released by Tinsa, house prices continued to drop in August with an 11.6% decrease, compared to the same period last year.

The press release from Tinsa is below.

Prices along the Mediterranean Coast have now fallen by an average of 40% from their highest levels.

The Major Cities segment is experiencing greater downward pressure on prices.

The General IMIE index recorded a year-on-year decline of 11.6%, slightly higher than the fall recorded in July, ending the month at 1545 points. The cumulative decline in house prices since the market peak in December 2007 is 32.4%.

The breakdown by segment shows that the “Mediterranean Coast” recorded the highest year-onyear fall in August, of 14.7%, followed by “Capitals and Major Cities”, which saw a 13.4% decline in value compared with the same month the year before.

The fall experienced in the “Balearic and Canary Islands” was slightly below the average, at 11.5%. An even smaller decline was recorded by “Metropolitan Areas”, where the year-on-year fall stood at 10.4%, and lastly “Other Municipalities”, with a fall of 8.8%, even lower than the figure recorded in July.

With regards to the cumulative falls by segment since the top of the market, the “Mediterranean Coast” is once again the biggest faller, with a decline of 39.5%; followed by “Capitals and Major Cities” with 35.6%, “Metropolitan Areas” with 31.4%, the “Balearic and Canary Islands” with 30.2% and “Other Municipalities”, which refers to those not included in other categories, with 27.4%.

You can download the press release here: IMIE House Price Index – August 2012

June Imie Index 2012 – Tinsa

Sharp decline in prices in major cities
Sharp decline in prices in major cities

Tinsa have released their house price index report for June 2012.

The year-on-year decline in the IMIE General index slowed slightly in June to 10.8% after the index reached 1589 points. The cumulative decline in house prices since the top of the market in December 2007 reached 30.4%.

By region, “Capitals and Major Cities” recorded the sharpest year-on-year decline in June of 13.5%, closely followed by the municipalities of the “Mediterranean Coast”, which fell by 13.3% compared to the same month in 2011, and “Metropolitan Areas”, which fell by 11.6%. The decline was greater than the market average in all three areas.

Behind these were once again “Other Municipalities”, which fell year-on-year by 7.3%, and the “Balearic and Canary Islands”, which were ranked last with a decline of 6.8%.

In terms of the cumulative decline in house prices since the top of the market by region, the “Mediterranean Coast” recorded a fall in June of 38.3%; followed by “Capitals and Major Cities” with 33.8%, “Metropolitan Areas” with 31.9%, the “Balearic and Canary Islands” with 25.4% and “Other Municipalities”, which refers to those not included in the other categories, with 24.5%.

You can download the press release here: June Imie Press Release and the index from here: June Imie Index 2012

About the IMIE – Spanish Property Market Index
The IMIE Index, a pioneering initiative launched by Tinsa in 2008, is an index that reflects the valueof residential property in Spain. It is governed by market criteria in terms of its geographical segmentation. Based on these guidelines, Tinsa has subdivided Spain into five major categories that represent the segments of the residential property market: Capitals and Major Cities with a population of 50,000 or more, Metropolitan Areas, the Mediterranean Coast, the Balearic and Canary Islands and Other Municipalities.

The IMIE Index records the variation in the m2 value of a property, calculated using the information from more than 200,000 residential valuations carried out by Tinsa every year, based on the methodology similar to that used for calculating the CPI and other international monthly price indices.

About Tinsa
Tinsa is a leading multinational for property valuation, analysis and advice. Founded in 1985, the company has 32 regional offices in Spain as well as permanent offices in France, Portugal, Argentina, Chile, Mexico, Peru and Colombia, although it operates in more than 25 countries. Since November 2010 Tinsa has been owned by Advent International.

Tinsa’s range of services includes real estate analysis and valuation, consultancy, and valuation of other types of tangible and intangible assets, among others. For more information please visit http://www.tinsa.es.

Housing Price Index – First Quarter 2012

INEThe National Institute of Statistics (INE) have released their House Price Index results for the first quarter of 2012. The report summarises the main results as follows:

  • The annual variation rate of the HPI is –12.6% in the first quarter of 2012, almost one-and-a-half points lower than that registered the previous quarter.
  • The interannual variation of new housing decreases more than three points, up to –11.8%.
  • Second-hand housing registers an increase of four tenths in the annual rate, which stands at –13.3%.
  • The quarterly variation of the general index is –5.0%.

Annual evolution of housing prices

The interannual rate of the Housing Price Index (HPI) in the first quarter of 2012 decreased almost one-and-a-half points, standing at –12.6%, the lowest since the beginning of the series, in 2007.

By type of housing, the annual variation of new housing stood at –11.8%, more than three points lower than the previous quarter. This rate of new housing was the lowest registered since the beginning of the series.

In turn, the annual rate for second-hand housing went from –13.7% in the fourth quarter of 2011 to –13.3%, increased four tenths, in the first quarter of 2012.

Results by Autonomous Community. Interannual variation rates 

The annual variation of the HPI is negative in all Autonomous Communities in the fourth quarter, such as happened throughout the previous year.

The greatest decreases in this variation took place in Illes Balears (-5.0 points) and Comunidad Foral de Navarra (-4.7 points), standing the annual variation at –14.8% and –15.6, respectively.

In turn, the highest increases of the annual variation took place in Comunidad de Madrid and La Rioja (-14.2% and –12.7%, respectively), increased one-and-a-half points as compared with the previous quarter.

You can see the complete report here: Housing Price Index (HPI). Base 2007 – First Quarter 2012

House prices down in May

Tinsa - Imie Index May 2012

TINSA have released their IMIE Index figures for May showing a decline of 11.1% year-on-year.

The year-on-year variation in house prices in May recorded a modest slowdown in the trend of recent months”

The General IMIE Index fell during May in year-on-year terms, with a decline of 11.1% and an Index level of 1595 points, after falling below the 1600 barrier. The cumulative decline in house prices from the peak of the market in December 2007 reached a low-point increasing by four tenths to 30.2%.

In terms of the different segments, the municipalities of the “Mediterranean Coast” once again recorded the sharpest year-on-year decline during May with a fall of 14.1%, closely followed by “Capitals and Major Cities” which fell by 13.3% and “Metropolitan Areas” by 11.8% compared to the same month the previous year. The decline was greater than the market average in all three areas.

Once again “Other Municipalities” were below the average with a year-on-year decline of 8.4%, followed by the “Balearic and Canary Islands” in last place with a fall of 6%.

In relation to the overall decline from the top of the market, the “Mediterranean Coast” recorded a fall of 37.9% to May; followed by “Capitals and Major Cities” with 32.9%, “Metropolitan Areas” with 31.2%, “Other Municipalities” with 25.9% and lastly “Balearic and Canary Islands” with 24.1%.

Read the full IMIE May Index 2012 at Tinsa.

Housing Price Index (HPI). Base 2007 – Q4 2011

House Price Index - Q4 2011
Prices continue to fall

The National Institute of Statistics (INE) have released figures for the house price index (HPI) for the fourth quarter of 2011, showing an annual variation rate of -11.2%, almost four points lower than that registered the previous quarter.

The interannual variation of new housing decreases three-and-a-half points, up to -8.5%.

Second-hand housing registers a decrease of more than four points in the annual rate, which stands at -13.7%.

The quarterly variation of the general index is -4.2%.

Annual evolution of housing prices

The interannual rate of the Housing Price Index (HPI) in the fourth quarter of 2011 decreased almost four points, standing at -11.2%, the lowest since the first quarter of 2007.

By type of housing, the annual variation of new housing stood at -8.5%, three-and-a-half points lower than the previous quarter.

In turn, the annual rate for second-hand housing went from -9.6% in the second quarter to -13.7%, decreased more than four points, in the fourth quarter of 2011.

Worth noting, that these rates were the lowest registered since the beginning of the series, for the new and second-hand housing.

Results by Autonomous Community. Interannual variation rates

The annual variation of the HPI is negative in all Autonomous Communities in the fourth quarter. In addition, this rate decreased in all Autonomous Communities such as the three previous quarters.

The greatest decreases in this variation took place in Principado de Asturias and Comunidad de Madrid (-10.5% and –15.7%, respectively) decreased almost seven points as compared with the third quarter.

In turn, the lowest decreases of the annual variation took place in Canarias (-1.3 points) and Cantabria (–1.3 points), standing the annual variation at –7.7% and –11.6, respectively.

The full report can be downloaded here: Housing Price Index (HPI). Base 2007. Q4 2011