The price of housing accentuated its increase in the third quarter of the year until 8.1% year-on-year, its biggest rise in two and a half years (from the beginning of 2022), according to data released this Thursday by the National Institute of Statistics (INE). Compared to the previous quarterthe second, the price of housing registered an increase of 2.8% and chains more than forty consecutive quarters (42) upwardssome increases that began in 2014.
By type of property, New housing was once again the one that became most expensive in the third quarter of the year, 9.8%, although the annual rate was reduced by 1.4 points. In this way, it breaks with two consecutive quarters in which it registered increases of more than 10%.
For its part, the price of second-hand housing increased by 7.9% in the third quarter of 2024, with an increase of 0.6 points compared to that registered the previous quarter. In this way, it has been rising non-stop since the second quarter of 2014.
This new increase in the price of housing (both new and used) occurs after became more expensive by 7.8% in the second quarter of the yearin which the new one recorded its biggest increase in almost 17 years after rising 11.2% and the second hand became more expensive by 7.3%.
Compared to the previous quarter, the second, housing prices registered an increase of 2.8%. With this new rise, this quarterly rate chains three quarters up.
By type of housing, both the prices of new housing and those of second-hand housing They also increased 2.8% in the third quarter of 2024 compared to the second.
Housing prices have been rising uninterruptedly since the second quarter of 2014. An upward path that was resumed after six years of declinewhich began in the second quarter of 2008 with the bursting of the real estate bubble. On the contrary, the historical minimum was recorded in the third quarter of 2012, when it became cheaper by 15.2%.
Increases in all communities: more than 10% in three
Housing prices presented positive annual rates in all communities in the third quarter. The largest price increases occurred in Navarra (10.7%), Andalusia (10.6%) and Aragón (10.3%).the only three in which the increase was double digits.
Also above the average were La Rioja (9.2%); Murcia (9%); Cantabria (8.9%); Valencian Community (8.8%); Ceuta (8.5%); Basque Country (8.4%) and Extremadura (8.2%). In the case of Madrid and Catalonia The price increases stood at 7.2% and 6.8%, respectively.
For its part, the smallest increase of housing prices in the third quarter of the year occurred in the Balearic Islands, with an increase of 5.8%, followed by Catalonia and Asturias and Castilla-La Mancha (both with 6.9%).
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