Housing Accentuates The Price Increase To 3.3%, Highest Increase Since 2019

Housing Accentuates The Price Increase To 3.3%, Highest Increase Since 2019

The price of housing intensified its rise in the second quarter of the year to 3.3% year- on- year, the greatest advance recorded by this indicator since the end of 2019, before the outbreak of the coronavirus pandemic, according to data released by the National Institute of Statistics ( INE ).

With this increase, which accentuates the 0.9% increase that the price experienced at the beginning of the year , housing became more expensive by 3% in the first half of 2021.

New housing was the one that saw its value increase the most in the second quarter of the year, by 6%, while second-hand housing grew by 2.9%.

If compared with the previous quarter, the first of 2021, the price of housing also increased by 2.4% , almost two and a half points more, the highest variation in six years.

In fact, it should be remembered that between January and March the price of housing slowed again with a rise of 0.9%, the most discreet since mid-2014.

In a context that is still marked by the coronavirus pandemic and its effects on the Spanish economy, housing has been getting more expensive for 29 quarters.

The new home pulls the price
In the second quarter of the year, new housing continued to be the one that increased its price the most, 6% year-on-year. This percentage has moderated to 0.7% so far this year, influenced by the coronavirus crisis, and to 1.3% compared to the first quarter.

For its part, used housing rose by 2.9% between April and June, its highest increase since the end of 2019. In the semester, the increase was 3.4% and 2.7% in the quarter-on-quarter rate, this being percentage the largest increase in six years (since the second quarter of 2015)

Extremadura and Madrid, where they rose the least
In the second quarter of the year, the price of housing increased in all the autonomous communities, with the autonomous city of Melilla (6.7%) leading the way. Extremadura, however, was the one that experienced the least advance, 1.7%. Among the most notable increases in prices, the Canary Islands (6.4%) stood out; Balearic Islands (5.7%); Cantabria (5.3%); Murcia (4.4%) or the Valencian Community (4.3%). In the case of Catalonia and Madrid , the communities with the most tension in prices, the rise was 3.2% and 1.9%, respectively.

With respect to the first quarter, the highest price increase occurred in the Balearic Islands (4%) and the lowest in Ceuta (0.6%). Since the beginning of 2021, prices have become more expensive in the Canary Islands (5%) and less in Ceuta (0.5%).

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