Property Sales Rise Again in September

November 13th, 2012

The sale of homes rose by 0.9% in September, compared to the same month of 2011, to a total of 25,985 transactions, of which 50.9% were for previously owned homes and 49.1% were for new builds, the National Statistics Institute reported yesterday.

The year-on-year rise in housing purchases recorded in September is the second consecutive increase, after August registered an increase of 3% year-on-year after a negative run of 17 months.

The September increase was due to mainly to resales, as purchases of new homes in this month stalled somewhat compared with the same month of 2011.

Specifically, sales of previously owned homes rose 1.8% in September year-on-year, to 13,238 operations, while the new builds showed no variation, with 12,747 transactions.

87.2% of the transactions carried out during the ninth month of the year were for free housing. In total, the sale of this type of housing increased 2.9%, to 22,648 operations, while public housing operations totaled 3,337, a decrease of 10.8% compared to September 2011.

Month-on-month (September over August), housing sales fell by 6.2%, compared to the 1.2% increase experienced in August. In the first nine months of the year, house sales accumulated a decrease of 14.8%.

In September, El Mundo reported that the highest number of house sales per 100,000 inhabitants occurred in La Rioja (128) and Valencia (103).

62% of house sales made in the ninth month of 2012 were recorded in Andalusia (5,084 operations), Valencia (4,238), Catalonia (3,482) and Madrid (3,292).

The regions that made fewer house sales in September were Navarra (317 operations), La Rioja (330) and Cantabria (375).

The regions with the highest year-on-year increases in housing sales were La Rioja (+94.1%), Murcia (+29.7%) and Aragon (+19.8%), while those showing the largest declines were Navarra (-40.6%) and Extremadura (-35.4%).

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Comments

  1. 13/11/12 22:37   roger cooper

    Property Sales Rise Again in September´´

    then

    ´Month-on-month (September over August), housing sales fell by 6.2%,´

    What you might call a negative rise!

    This story is a bit of a muddle. After analysing it as best one can, I came to the conclusion that there hasn´t been any significant increase in property sales in Spain, only a very slight increase over last year, less than 1%

    The term ´free housing´ is also confusing. At first I thought it must mean what is called elsewhere ´public housing´ but it seems here it means ´resales´.

    All in all, it sounds more encouraging to your probable readers than the reality is that Spain still has a huge overhang of unsold property, around a million units or so, which is scarcely being reduced at all. Sales in La Rioja are not of much interest to them, I imagine.

    Couldn´t you get some realtor to give an honest opinion about how holiday/second home properties are actually trading? And at what prices?


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