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Spain's June house prices up 8.8% on June 2013

Source: El Pais - Fri 8th Aug 2014
Spain's June house prices up 8.8% on June 2013

House purchases rose 8.8% in June of this year compared to the same month in 2013, according to figures released on Thursday by the National Statistics Institute (INE). The month saw a total of 26,076 operations, thanks mostly to the second-hand market.

This is the fourth consecutive rise, after improvements seen in March, April and May, when house sales rose 22%, 5% and 5.4%, respectively, compared to the same months a year earlier. The positive figures put an end to 10 consecutive months of year-on-year falls.

But talk of a solid recovery is premature, given that the combined figures for the first half of the year are still negative.

Between January and June 2013, a total of 171,596 homes were sold, compared to 162,591 in the same period this year – that's a fall of 5.2%. The second-quarter comparison also reveals negative figures, with a 7.3% drop in house sales from 2013 to 2014.

Some regions in Spain, however, are enjoying something resembling a boom. June saw a 30% increase in sales in Madrid compared to the same month in 2013, while Extremadura, Navarre and the Balearics all enjoyed similar rises, of 25.7%, 19.3% and 17%, respectively.

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* Spain's land registry and cadastre to share information