The price of free housing soars by 8.1% in the third quarter, its biggest increase in two and a half years

The price of new housing moderates its rise to 9.8% and that of used housing marks its biggest increase since the second quarter of 2022

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The price of free housing rose 8.1% year-on-year in the third quarter of the year, a rate three tenths higher than the previous quarter and the highest since the first quarter of 2022, when it increased by 8.5%. according to the Housing Price Index (IPV) of the National Institute of Statistics (INE) published this Thursday.

This boost in prices was due, above all, to second-hand housing, which increased its price by 7.9% year-on-year, a rate six tenths higher than that of the second quarter and the highest since the second quarter of 2022. , when it also rose 7.9%. The price of second-hand housing has been growing at an interannual rate since the second quarter of 2014.

For its part, the price of new housing increased by 9.8% year-on-year in the third quarter, a rate 1.4 points lower than that of the previous quarter.

With the year-on-year advance of the third quarter, the price of free housing has already accumulated 42 quarters of increases.

NAVARRA, ANDALUSIA AND ARAGON LEAD THE INTER-ANNUAL PROMOTIONS

All the autonomous communities increased the price of housing in the third quarter in an interannual rate.

The largest increases were recorded in Navarra (+10.7%), Andalusia (+10.6%), Aragón (+10.3%), La Rioja (+9.2%), and Murcia, with an increase of 9% in relation to the third quarter of 2023.

The most moderate increases occurred in the Balearic Islands (+5.8%), Catalonia (6.8%), and Asturias and Castilla-La Mancha, both with a year-on-year increase in the price of free housing of 6.9%.

HOUSING PRICE MODERATES ITS QUARTERLY INCREASE TO 2.8%

In a quarter-on-quarter rate (third quarter over second quarter), the price of free housing rose 2.8%, eight tenths less than what it increased in the second quarter.

With this rebound, housing prices have recorded three consecutive quarters of quarterly increases.

Between July and September, the price of used housing grew by 2.8%, a rate nine tenths lower than that of the previous quarter, while the price of new housing also increased by 2.8%, increasing the growth experienced by one tenth. in the second quarter of the year.