1 April 2019
2019- n° 48In Q4 2018, prices of second-hand dwellings continued to grow Notaries-INSEE second-hand dwellings price index - fourth quarter 2018
1 April 2019: The file of additionnal data has been updated compared to the publication of 28 February 2019.
In Q4 2018, prices of second-hand dwellings in France (excluding Mayotte) were still increasing: +0.7% compared to Q3 2018 (provisional seasonally adjusted results), after +1.0%.
In Q4 2018, prices of second-hand dwellings in France (excluding Mayotte) were still increasing: +0.7% compared to Q3 2018 (provisional seasonally adjusted results), after +1.0%.
Over a year, the rise of prices slightly intensified: +3.2%, after +2.9%. As observed since the end of 2016, and even if the gap narrowed, this increase was more important for flat (+3.4% over the year) than for houses (+3.1%).
tableauVariation in prices of second-hand dwellings in France over a year
| Flats | Whole | Houses | |
|---|---|---|---|
| 2011-Q1 | 9.5 | 7.1 | 5.3 |
| 2011-Q2 | 10.0 | 7.1 | 4.9 |
| 2011-Q3 | 8.8 | 6.2 | 4.2 |
| 2011-Q4 | 6.2 | 3.7 | 1.8 |
| 2012-Q1 | 3.8 | 1.8 | 0.4 |
| 2012-Q2 | 1.0 | -0.3 | -1.2 |
| 2012-Q3 | -0.8 | -1.7 | -2.3 |
| 2012-Q4 | -1.4 | -2.1 | -2.6 |
| 2013-Q1 | -1.5 | -2.0 | -2.4 |
| 2013-Q2 | -1.9 | -2.2 | -2.5 |
| 2013-Q3 | -1.7 | -2.3 | -2.8 |
| 2013-Q4 | -1.8 | -1.9 | -2.0 |
| 2014-Q1 | -1.4 | -1.9 | -2.2 |
| 2014-Q2 | -1.3 | -1.4 | -1.4 |
| 2014-Q3 | -2.0 | -1.4 | -1.0 |
| 2014-Q4 | -2.4 | -2.5 | -2.6 |
| 2015-Q1 | -2.8 | -2.4 | -2.1 |
| 2015-Q2 | -3.0 | -2.6 | -2.4 |
| 2015-Q3 | -2.0 | -1.8 | -1.6 |
| 2015-Q4 | -1.1 | -0.4 | 0.2 |
| 2016-Q1 | -0.4 | 0.3 | 0.9 |
| 2016-Q2 | 0.5 | 0.6 | 0.7 |
| 2016-Q3 | 1.0 | 1.3 | 1.5 |
| 2016-Q4 | 1.6 | 1.5 | 1.4 |
| 2017-Q1 | 3.0 | 2.5 | 2.1 |
| 2017-Q2 | 3.7 | 3.1 | 2.6 |
| 2017-Q3 | 4.5 | 3.2 | 2.4 |
| 2017-Q4 | 4.3 | 3.3 | 2.5 |
| 2018-Q1 | 3.8 | 2.9 | 2.3 |
| 2018-Q2 | 3.3 | 2.8 | 2.5 |
| 2018-Q3 | 3.3 | 2.9 | 2.6 |
| 2018-Q4 | 3.4 | 3.2 | 3.1 |
graphiqueVariation in prices of second-hand dwellings in France over a year
- Scope: France (excluding Mayotte).
- Sources : Insee, ADSN - BIEN - Grand Paris notaries, French notaries, Perval society.
tableauVariation in prices of second-hand dwellings in France
| Change in (%) | ||||||
|---|---|---|---|---|---|---|
| 3 months (S.A.) | 12 months | |||||
| 2018 Q2 | 2018 Q3(sd) | 2018 Q4(p) | 2018 Q2 | 2018 Q3(sd) | 2018 Q4(p) | |
| France | 0.5 | 1.0 | 0.7 | 2.8 | 2.9 | 3.2 |
| Flats | 0.6 | 1.4 | 0.5 | 3.3 | 3.3 | 3.4 |
| Houses | 0.4 | 0.7 | 0.8 | 2.5 | 2.6 | 3.1 |
- (p): provisional; (sd): semi-definitive
- Scope: France (excluding Mayotte)
- Sources : Insee, ADSN – BIEN – Grand Paris notaries, French notaries, Perval society
In Île-de-France, prices of second-hand dwellings stayed dynamic
In Q4 2018, prices of second-hand dwellings in Île-de-France continued to rise: +1.3% compared to Q3 2018, after +1.0%.
Year on year, prices were still increasing at a sustained pace: +4.2%, after +3.5% and +4.1%. Prices of flats increased by 4.5% over the year while prices of houses increased by 3.5%. Paris continued to pull up the prices of flats, even if the rise in the capital city was a little less marked this quarter: +5.7% over the year in Q4 2018, after +6.2% in Q3 2018 and +7.2% in Q2 2018. Outside Paris, the annual rise in Île-de-France was the same for flats and for houses (+3.5%).
Smaller rise of prices of second-hand dwellings in provincial France
In Q4 2018, prices of second-hand dwelling in provincial France increased by 0.4% compared to the previous quarter, after +1.0%.
Over one year, the rise of prices was almost unchanged, and stayed less important than in Île-de-France: +2.8% between Q4 2017 and Q4 2018, after +2.7% and 2.3%. Contrary to what was observed at the end of 2017, the annual rise was, at the end of 2018, more important for houses (+3.0%) than for flats (+2.4%).
tableauPrices of second-hand dwellings in metropolitan France
| Provincial France - flats | Provincial France - houses | Île-de-France - flats | Île-de-France - houses | |
|---|---|---|---|---|
| 2000-Q1 | 45.7 | 53.1 | 38.4 | 52.2 |
| 2000-Q2 | 46.4 | 54.0 | 39.4 | 52.9 |
| 2000-Q3 | 47.3 | 55.2 | 40.3 | 54.1 |
| 2000-Q4 | 47.8 | 56.1 | 40.9 | 54.8 |
| 2001-Q1 | 48.9 | 57.3 | 41.9 | 55.8 |
| 2001-Q2 | 50.0 | 58.6 | 42.5 | 57.5 |
| 2001-Q3 | 50.5 | 59.6 | 43.5 | 58.0 |
| 2001-Q4 | 51.8 | 60.7 | 44.2 | 58.5 |
| 2002-Q1 | 52.8 | 62.0 | 44.8 | 58.8 |
| 2002-Q2 | 54.3 | 63.4 | 46.1 | 60.1 |
| 2002-Q3 | 56.2 | 65.2 | 47.4 | 61.4 |
| 2002-Q4 | 58.0 | 67.0 | 48.8 | 62.2 |
| 2003-Q1 | 59.7 | 68.5 | 50.3 | 63.5 |
| 2003-Q2 | 62.0 | 70.4 | 51.9 | 65.0 |
| 2003-Q3 | 64.4 | 72.3 | 53.3 | 66.8 |
| 2003-Q4 | 66.6 | 74.6 | 55.1 | 69.7 |
| 2004-Q1 | 70.3 | 77.1 | 57.2 | 72.0 |
| 2004-Q2 | 73.0 | 79.5 | 59.4 | 74.1 |
| 2004-Q3 | 76.2 | 82.2 | 61.4 | 77.0 |
| 2004-Q4 | 79.5 | 85.3 | 63.8 | 79.4 |
| 2005-Q1 | 82.5 | 88.4 | 66.2 | 82.1 |
| 2005-Q2 | 86.1 | 91.2 | 68.6 | 85.4 |
| 2005-Q3 | 89.0 | 94.3 | 71.5 | 88.4 |
| 2005-Q4 | 92.1 | 96.8 | 73.5 | 91.8 |
| 2006-Q1 | 95.3 | 99.5 | 75.8 | 95.0 |
| 2006-Q2 | 97.6 | 101.9 | 78.0 | 97.5 |
| 2006-Q3 | 100.0 | 103.8 | 79.5 | 99.5 |
| 2006-Q4 | 101.9 | 105.9 | 81.0 | 100.7 |
| 2007-Q1 | 102.7 | 107.2 | 82.6 | 103.5 |
| 2007-Q2 | 103.6 | 108.6 | 84.0 | 104.5 |
| 2007-Q3 | 104.8 | 109.6 | 85.4 | 105.0 |
| 2007-Q4 | 106.3 | 110.9 | 87.6 | 106.3 |
| 2008-Q1 | 106.7 | 111.3 | 88.4 | 105.9 |
| 2008-Q2 | 106.4 | 110.3 | 89.2 | 105.9 |
| 2008-Q3 | 104.8 | 108.9 | 89.0 | 104.4 |
| 2008-Q4 | 102.3 | 105.2 | 87.6 | 101.0 |
| 2009-Q1 | 99.5 | 101.9 | 84.7 | 95.8 |
| 2009-Q2 | 98.0 | 100.0 | 82.3 | 92.8 |
| 2009-Q3 | 98.3 | 99.9 | 82.7 | 93.2 |
| 2009-Q4 | 99.3 | 100.9 | 84.1 | 93.8 |
| 2010-Q1 | 101.0 | 102.4 | 86.8 | 97.2 |
| 2010-Q2 | 102.4 | 103.6 | 89.4 | 98.8 |
| 2010-Q3 | 103.9 | 104.7 | 92.0 | 100.0 |
| 2010-Q4 | 105.4 | 106.4 | 95.6 | 102.0 |
| 2011-Q1 | 106.1 | 107.2 | 99.2 | 103.8 |
| 2011-Q2 | 107.2 | 108.1 | 103.4 | 105.7 |
| 2011-Q3 | 108.0 | 108.4 | 105.0 | 107.0 |
| 2011-Q4 | 108.0 | 107.7 | 105.5 | 107.1 |
| 2012-Q1 | 107.8 | 107.1 | 105.1 | 106.9 |
| 2012-Q2 | 107.2 | 106.5 | 105.2 | 106.2 |
| 2012-Q3 | 106.1 | 105.9 | 105.2 | 105.0 |
| 2012-Q4 | 105.8 | 104.9 | 104.7 | 105.2 |
| 2013-Q1 | 105.0 | 104.4 | 104.6 | 104.9 |
| 2013-Q2 | 104.3 | 103.6 | 104.2 | 104.5 |
| 2013-Q3 | 104.1 | 102.7 | 103.5 | 103.4 |
| 2013-Q4 | 104.0 | 102.8 | 102.9 | 103.3 |
| 2014-Q1 | 103.6 | 102.2 | 103.0 | 102.2 |
| 2014-Q2 | 103.2 | 102.4 | 102.6 | 101.6 |
| 2014-Q3 | 102.2 | 101.7 | 101.5 | 101.6 |
| 2014-Q4 | 100.9 | 100.2 | 101.2 | 100.3 |
| 2015-Q1 | 100.6 | 100.0 | 100.3 | 100.0 |
| 2015-Q2 | 99.9 | 99.9 | 99.8 | 99.7 |
| 2015-Q3 | 99.9 | 100.0 | 99.9 | 100.0 |
| 2015-Q4 | 99.8 | 100.4 | 100.1 | 99.9 |
| 2016-Q1 | 99.6 | 100.9 | 100.4 | 100.5 |
| 2016-Q2 | 99.5 | 100.6 | 101.4 | 100.9 |
| 2016-Q3 | 99.6 | 101.6 | 102.2 | 101.3 |
| 2016-Q4 | 100.2 | 101.7 | 103.0 | 101.6 |
| 2017-Q1 | 101.6 | 103.0 | 104.5 | 102.5 |
| 2017-Q2 | 102.3 | 103.3 | 106.1 | 103.1 |
| 2017-Q3 | 103.1 | 104.0 | 108.0 | 103.8 |
| 2017-Q4 | 103.3 | 104.2 | 108.8 | 104.4 |
| 2018-Q1 | 104.2 | 105.7 | 109.8 | 104.7 |
| 2018-Q2 | 104.3 | 106.0 | 111.1 | 105.7 |
| 2018-Q3 | 105.9 | 106.8 | 112.6 | 106.1 |
| 2018-Q4 | 105.8 | 107.6 | 113.9 | 107.9 |
graphiquePrices of second-hand dwellings in metropolitan France
- Scope: metropolitan France
- Sources : Insee, ADSN - BIEN - Grand Paris notaries, French notaries, Perval society.
tableauVariation in prices of second-hand dwellings in metropolitan France
| Change in (%) | ||||||
|---|---|---|---|---|---|---|
| 3 months (S.A) | 12 months | |||||
| 2018 Q2 | 2018 Q3(sd) | 2018 Q4(p) | 2018 Q2 | 2018 Q3(sd) | 2018 Q4(p) | |
| Metropolitan France | 0.5 | 1.0 | 0.7 | 2.9 | 2.9 | 3.2 |
| Île-de-France | 1.1 | 1.0 | 1.3 | 4.1 | 3.5 | 4.2 |
| Provincial France | 0.2 | 1.0 | 0.4 | 2.3 | 2.7 | 2.8 |
| - Auvergne-Rhône-Alpes | 0.4 | 1.4 | ** | 2.5 | 3.1 | ** |
| - Hauts-de-France | 0.4 | 0.7 | ** | 1.1 | 1.4 | ** |
| - Provence-Alpes-Côte d'Azur | -0.4 | 0.8 | ** | 1.5 | 1.6 | ** |
| Flats | 0.6 | 1.4 | 0.5 | 3.3 | 3.4 | 3.4 |
| Île-de-France | 1.2 | 1.3 | 1.1 | 4.9 | 4.2 | 4.5 |
| - Paris | 2.1 | 1.2 | 1.8 | 7.2 | 6.2 | 5.7 |
| - Immediate suburbs | 0.7 | 1.5 | 0.9 | 3.7 | 3.1 | 4.8 |
| - Outer suburbs | -0.1 | 1.4 | -0.4 | 0.9 | 0.9 | 1.0 |
| Provincial France | 0.1 | 1.5 | -0.1 | 2.0 | 2.6 | 2.4 |
| - Conurbation > 10 000 inhabitants | 0.1 | 1.6 | ** | 2.1 | 2.8 | ** |
| * Central town | 0.1 | 1.8 | ** | 2.5 | 3.3 | ** |
| * Suburb | 0.1 | 1.2 | ** | 1.5 | 2.0 | ** |
| - Conurbation < 10 000 inhabitants | -0.2 | 0.8 | ** | 0.6 | 0.8 | ** |
| - Auvergne-Rhône-Alpes | -0.2 | 2.1 | ** | 2.6 | 3.8 | ** |
| * Lyon | 0.9 | 4.2 | ** | 7.9 | 9.4 | ** |
| - Hauts-de-France | 1.8 | 0.1 | ** | 0.9 | 0.0 | ** |
| - Provence-Alpes-Côte d'Azur | -0.9 | 0.9 | ** | 0.6 | 1.0 | ** |
| * Marseille | -2.7 | 3.8 | ** | 1.0 | 3.3 | ** |
| Houses | 0.4 | 0.7 | 0.9 | 2.5 | 2.6 | 3.1 |
| Île-de-France | 0.9 | 0.4 | 1.7 | 2.5 | 2.0 | 3.5 |
| - Immediate suburbs | 2.2 | 0.7 | 2.2 | 3.9 | 3.5 | 5.4 |
| - Outer suburbs | 0.3 | 0.2 | 1.5 | 1.9 | 1.3 | 2.6 |
| Provincial France | 0.3 | 0.8 | 0.7 | 2.5 | 2.7 | 3.0 |
| - Auvergne-Rhône-Alpes | 0.8 | 0.9 | ** | 2.4 | 2.7 | ** |
| - Hauts-de-France | 0.2 | 0.8 | ** | 1.1 | 1.7 | ** |
| * Conurbation of Lille | 2.3 | 1.6 | ** | 3.8 | 4.2 | ** |
| - Provence-Alpes-Côte d'Azur | 0.1 | 0.6 | ** | 2.3 | 2.3 | ** |
- ** index released on 1st of April 2019.
- Additional data (for example by department in Île-de-France) are available on the web page of the indicator.
- (p): provisional ; (sd): semi-definitive
- Scope: Metropolitan France
- Sources : Insee, ADSN – BIEN – Grand Paris notaries, French notaries, Perval society
The annual volume of transactions stayed high
In Q4 2018, the annual volume of transactions remained at a high level: in December, the number of transactions carried out over the last twelve months was 970,000. This volume was higher than the one recorded one quarter earlier (963,000 in September) and than the one recorded one year earlier (968,000). Compared to the stock of available housing, which increases by around 1% per year, the proportion of transactions was equivalent in 2018 to what was observed in the early 2000.
tableauVolume of transactions of second-hand dwellings over the last 12 months
| Volume of transactions of second-hand dwellings over the last 12 months | |
|---|---|
| 2000-Q1 | 755 |
| 2000-Q2 | 768 |
| 2000-Q3 | 780 |
| 2000-Q4 | 793 |
| 2001-Q1 | 785 |
| 2001-Q2 | 789 |
| 2001-Q3 | 791 |
| 2001-Q4 | 784 |
| 2002-Q1 | 793 |
| 2002-Q2 | 799 |
| 2002-Q3 | 802 |
| 2002-Q4 | 811 |
| 2003-Q1 | 797 |
| 2003-Q2 | 793 |
| 2003-Q3 | 805 |
| 2003-Q4 | 813 |
| 2004-Q1 | 822 |
| 2004-Q2 | 835 |
| 2004-Q3 | 826 |
| 2004-Q4 | 822 |
| 2005-Q1 | 825 |
| 2005-Q2 | 815 |
| 2005-Q3 | 820 |
| 2005-Q4 | 828 |
| 2006-Q1 | 833 |
| 2006-Q2 | 835 |
| 2006-Q3 | 831 |
| 2006-Q4 | 819 |
| 2007-Q1 | 812 |
| 2007-Q2 | 821 |
| 2007-Q3 | 821 |
| 2007-Q4 | 809 |
| 2008-Q1 | 795 |
| 2008-Q2 | 756 |
| 2008-Q3 | 716 |
| 2008-Q4 | 673 |
| 2009-Q1 | 610 |
| 2009-Q2 | 578 |
| 2009-Q3 | 568 |
| 2009-Q4 | 594 |
| 2010-Q1 | 656 |
| 2010-Q2 | 698 |
| 2010-Q3 | 736 |
| 2010-Q4 | 775 |
| 2011-Q1 | 796 |
| 2011-Q2 | 807 |
| 2011-Q3 | 821 |
| 2011-Q4 | 801 |
| 2012-Q1 | 816 |
| 2012-Q2 | 781 |
| 2012-Q3 | 734 |
| 2012-Q4 | 708 |
| 2013-Q1 | 661 |
| 2013-Q2 | 676 |
| 2013-Q3 | 691 |
| 2013-Q4 | 722 |
| 2014-Q1 | 739 |
| 2014-Q2 | 739 |
| 2014-Q3 | 729 |
| 2014-Q4 | 697 |
| 2015-Q1 | 700 |
| 2015-Q2 | 719 |
| 2015-Q3 | 758 |
| 2015-Q4 | 802 |
| 2016-Q1 | 814 |
| 2016-Q2 | 824 |
| 2016-Q3 | 831 |
| 2016-Q4 | 851 |
| 2017-Q1 | 883 |
| 2017-Q2 | 923 |
| 2017-Q3 | 954 |
| 2017-Q4 | 968 |
| 2018-Q1 | 964 |
| 2018-Q2 | 960 |
| 2018-Q3 | 963 |
| 2018-Q4 | 970 |
graphiqueVolume of transactions of second-hand dwellings over the last 12 months
- Scope: France (excluding Mayotte).
- Sources: CGEDD, based on notarial databases and DGFiP (MEDOC).
Revisions
The second-hand housing price index is revised to include observations recorded after the previous publication.
In comparison with the results released on 7 January 2019, the change in prices in Q3 2018 in metropolitan France has however not been revised. The overall change in prices in Q3 2018 stands at +1.0% compared to Q2 2018.
For further information
The calculation of the indexes is based on the transactions completed during the quarter. The methodology is based on models explaining the price of housing according to its characteristics. With these models, the current value of a reference housing stock is estimated. Methodological principles of calculation of indexes are found in « Les indices Notaires-Insee de prix des logements anciens », Insee Méthodes n° 128 released in July 2014.
When this Informations Rapides is published, around 30 indexes for big cities are not yet available. Between two publications, at the middlequarter, the Insee Macro-economic database (BDM) and the historical data available on the web page of the index are updated to incorporate this information and update the data previously released.
Next data update: 1st April 2019
Next issue: 23 May 2019, 8:45 AM
Pour en savoir plus
The calculation of the indexes is based on the transactions completed during the quarter. The methodology is based on models explaining the price of housing according to its characteristics. With these models, the current value of a reference housing stock is estimated. Methodological principles of calculation of indexes are found in « Les indices Notaires-Insee de prix des logements anciens », Insee Méthodes n° 128 released in July 2014.
When this Informations Rapides is published, around 30 indexes for big cities are not yet available. Between two publications, at the middlequarter, the Insee Macro-economic database (BDM) and the historical data available on the web page of the index are updated to incorporate this information and update the data previously released.
Next data update: 1st April 2019
Next issue: 23 May 2019, 8:45 AM
