The sale of used homes increases by 45.5% in April

House prices have increased by 1.5% and transactions increased by 9.4% due to the resale.

Prices rise and more homes are purchased. This is the new era that seems to live the real estate market in Spain. On the one hand, the price grew 1.5% in the first three months of the year, bringing its fourth consecutive upside quarter, according to data released on Tuesday by the National Statistics Institute (INE). Thus, the year 2015 seems to continue the path opened in 2014, when prices were up 1.8% for the first time in six years, since the beginning of the crisis in 2008.

Most striking is that for new housing, the least sold, prices have increased by 4%, its biggest gain in almost seven years (since the second quarter of 2008). For used housing prices rose just 1.1% YoY and experienced four consecutive quarters of growth.

Rates of house sales don’t diminish either and rose 9.4% last April over the same month last year, up to 27,241 operations, notes the INE, the data correspond to sales recorded in the records of the from property deeds done in previous months reference.

The year increase in April exceeded more than seven points experienced in March when purchases grew 2.1%.

"These data are closely related to the increase in mortgage lending. An increase which is due to the opening of mortgage credit, to the great reduction in spreads by banks, the decline in housing prices and the prospects for improvement experienced in the economy. To this we must add that all those families that have delayed purchasing decisions during these years of crisis, are buying a home now that the sector is starting to stabilize", explained in the real estate website Fotocasa.

The housing market is increasing on its eighth consecutive increase thanks to the increase in 45.5% of transactions of existing homes, a total of 21,014. This rise isn’t led by new housing, whose purchases were reduced to 40.4%, with just 6,227 operations.

In the fourth month of the year, more free housing has been purchased. 88.4% were free (increase of 8.7% year on year, to 24,090 operations), while only 3,151 were acquired protected, with a rise of 15.2% compared to April 2014.

The largest number of house sales per 100,000 inhabitants was concentrated in Valencia and the Canary Islands. In absolute terms, Andalusia continued to lead purchases, with 5,651 operations, followed by Catalonia (4,219), Madrid (4,026) and Valencia (3,730).

In relative terms, the regions where the increase of sales year on year was the greatest were Asturias (+ 21.6%), La Rioja (+ 20.8%) and Madrid (+ 19.9%), while the largest decreases corresponded to Cantabria (-23.9%) and Murcia (-11.5%).

Source: El Pais



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