30 September 2019
2019- n° 232In Q2 2019, prices of second-hand dwellings continued to grow Notaries-INSEE second-hand dwellings price index - second quarter 2019
30 September 2019: The file of additionnal data has been updated compared to the publication of 5 September 2019.
In Q2 2019, prices of second-hand dwellings in France (excluding Mayotte) were still increasing: +0.8% as compared to Q1 2019 (provisional seasonally adjusted results), at a slightly bigger rate than in the previous quarter (+0.6%).
In Q2 2019, prices of second-hand dwellings in France (excluding Mayotte) were still increasing: +0.8% as compared to Q1 2019 (provisional seasonally adjusted results), at a slightly bigger rate than in the previous quarter (+0.6%).
Over a year, the rise of prices barely sped up : +3.2%, after +3.0%. As observed since the end of 2016, this increase was more important for flats (+4.3% over the year) than for houses (+2.4%).
tableauVariation in prices of second-hand dwellings in France over a year
| France - flats | France | France - 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 |
| 2019-Q1 | 3.7 | 3.0 | 2.5 |
| 2019-Q2 | 4.3 | 3.2 | 2.4 |
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 Q4 | 2019 Q1(sd) | 2019 Q2(p) | 2018 Q4 | 2019 Q1(sd) | 2019 Q2(p) | |
| France | 0.8 | 0.6 | 0.8 | 3.2 | 3.0 | 3.2 |
| Flats | 0.6 | 1.2 | 1.2 | 3.4 | 3.8 | 4.3 |
| Houses | 0.9 | 0.2 | 0.5 | 3.1 | 2.5 | 2.4 |
- (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 Q2 2019, prices of second-hand dwellings’ price in Île-de-France sped up: +1.1% as compared to Q1 2019, after +0.6%.
Year on year, prices were still increasing at a sustained pace: +3.9% between Q2 2018 and Q2 2019, after +4.0% and +4.2%. Flats’ prices increased by +4.9% over the year while houses’ prices increased by 1.9%. Prices in inner Paris kept on driving flats’ prices: +6.3% over the year in Q2 2019, after +6.6% in Q1 2019 and +5.7% in Q4 2018. Excluding Paris, the annual rise in Île-de-France was +2,7% in Q2 2019.
Prices keeping on increasing for second-hand dwellings in provincial France
In Q2 2019, prices of second-hand dwelling in provincial France kept increasing at the same rate as the two previous quarters (+0.6%).
Over one year, prices increased almost at the same pace than previously: +2.8% between Q2 2018 and Q2 2019, after +2.6% and 2.8%. This increase was close to the one observed in the Île-de-France without Paris. Similarly to what was observed at the beginning of 2019, the annual rise in provincial France was in Q2 2019 more important for flats (+3.7%) than for houses (+2.4%).
tableauSecond-hand dwellings price index in metropolitan France
| Province - flats | Province - 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 | 105.4 | 109.8 | 104.8 |
| 2018-Q2 | 104.4 | 106.0 | 111.2 | 105.6 |
| 2018-Q3 | 105.8 | 106.8 | 112.5 | 106.1 |
| 2018-Q4 | 105.9 | 107.7 | 113.8 | 107.7 |
| 2019-Q1 | 107.3 | 108.1 | 115.1 | 107.1 |
| 2019-Q2 | 108.3 | 108.6 | 116.6 | 107.5 |
graphiqueSecond-hand dwellings price index 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 Q4 | 2019 Q1(sd) | 2019 Q2(p) | 2018 Q4 | 2019 Q1(sd) | 2019 Q2(p) | |
| Metropolitan France | 0.8 | 0.6 | 0.8 | 3.2 | 3.0 | 3.2 |
| Île-de-France | 1.2 | 0.6 | 1.1 | 4.2 | 4.0 | 3.9 |
| Provincial France | 0.6 | 0.6 | 0.6 | 2.8 | 2.6 | 2.8 |
| - Auvergne-Rhône-Alpes | 0.3 | 1.8 | ** | 2.9 | 3.9 | ** |
| - Hauts-de-France | 0.3 | 0.4 | ** | 1.7 | 1.9 | ** |
| - Provence-Alpes-Côte d'Azur | 0.2 | 0.1 | ** | 2.3 | 1.0 | ** |
| Flats | 0.6 | 1.2 | 1.1 | 3.5 | 3.8 | 4.3 |
| Île-de-France | 1.1 | 1.2 | 1.3 | 4.6 | 4.8 | 4.9 |
| - Paris | 1.7 | 1.6 | 1.7 | 5.7 | 6.6 | 6.3 |
| - Immediate suburbs | 1.0 | 1.1 | 1.1 | 4.8 | 4.4 | 4.5 |
| - Outer suburbs | -0.3 | 0.2 | 0.9 | 0.9 | 0.7 | 1.6 |
| Provincial France | 0.1 | 1.3 | 1.0 | 2.4 | 2.9 | 3.7 |
| - Conurbation > 10 000 inhabitants | 0.1 | 1.4 | ** | 2.6 | 3.1 | ** |
| * Central town | 0.2 | 1.4 | ** | 2.7 | 3.3 | ** |
| * Suburb | 0.0 | 1.3 | ** | 2.3 | 2.7 | ** |
| - Conurbation < 10 000 inhabitants | 0.5 | 0.4 | ** | 1.1 | 1.3 | ** |
| - Auvergne-Rhône-Alpes | 0.4 | 1.1 | ** | 3.8 | 3.7 | ** |
| * Lyon | 1.1 | 3.4 | ** | 7.8 | 9.4 | ** |
| - Hauts-de-France | 0.2 | 1.0 | ** | 2.0 | 3.1 | ** |
| - Provence-Alpes-Côte d'Azur | -0.1 | 1.5 | ** | 1.4 | 1.7 | ** |
| * Marseille | -0.1 | -0.8 | ** | 1.7 | 0.2 | ** |
| Houses | 0.9 | 0.2 | 0.5 | 3.1 | 2.4 | 2.4 |
| Île-de-France | 1.5 | -0.6 | 0.4 | 3.5 | 2.3 | 1.9 |
| - Immediate suburbs | 1.3 | 0.7 | 0.8 | 4.8 | 4.4 | 4.5 |
| - Outer suburbs | 0.7 | -0.5 | 0.7 | 0.9 | 0.7 | 1.6 |
| Provincial France | 0.8 | 0.3 | 0.5 | 3.0 | 2.5 | 2.4 |
| - Auvergne-Rhône-Alpes | 0.1 | 2.5 | ** | 2.3 | 4.2 | ** |
| - Hauts-de-France | 0.4 | 0.3 | ** | 2.0 | 3.1 | ** |
| * Conurbation of Lille | 1.3 | 0.6 | ** | 4.2 | 4.6 | ** |
| - Provence-Alpes-Côte d'Azur | 0.5 | -1.3 | ** | 3.3 | 0.4 | ** |
- ** index released on 30th of September 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 number of transactions remained high
In Q2 2019, the annual number of transactions remained at a high level: in June, it reached 1,017,000 on a yearly basis, more than the one recorded one quarter earlier (985,000 at the end of March) and than the one recorded one year earlier (956,000). Compared to the stock of available dwellings which increases by around 1% a year, the proportion of transactions was similar in Q2 2019 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 | 690 |
| 2013-Q4 | 720 |
| 2014-Q1 | 736 |
| 2014-Q2 | 736 |
| 2014-Q3 | 727 |
| 2014-Q4 | 694 |
| 2015-Q1 | 697 |
| 2015-Q2 | 715 |
| 2015-Q3 | 754 |
| 2015-Q4 | 798 |
| 2016-Q1 | 809 |
| 2016-Q2 | 819 |
| 2016-Q3 | 825 |
| 2016-Q4 | 845 |
| 2017-Q1 | 877 |
| 2017-Q2 | 917 |
| 2017-Q3 | 949 |
| 2017-Q4 | 964 |
| 2018-Q1 | 960 |
| 2018-Q2 | 956 |
| 2018-Q3 | 958 |
| 2018-Q4 | 965 |
| 2019-Q1 | 985 |
| 2019-Q2 | 1017 |
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 in order to include observations recorded after the previous publication.
In comparison with the results released on 1st July 2019, the change in prices in Q1 2019 in metropolitan France was revised downwards. The overall change in prices in Q1 2019 stood at +0.6% compared to Q4 2018, instead of +0.8%.
For further information
The calculation of 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. The current value of a reference housing stock is estimated thanks to these models. Methodological principles of calculation of indexes may be found in « Les indices Notaires-Insee de prix des logements anciens », Insee Méthodes n° 128 released in July 2014.
At the time for publication of this Informations Rapides, around 30 indexes for big cities are not yet available. Between two publications, at the middle-quarter, the Insee Macro-economic database (BDM) and the historical data available on the web page of the index are updated so as to incorporate this information and update the data previously released.
Next data update: 30th September 2019
Next issue: 28 November 2019, 8:45 AM
Pour en savoir plus
The calculation of 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. The current value of a reference housing stock is estimated thanks to these models. Methodological principles of calculation of indexes may be found in « Les indices Notaires-Insee de prix des logements anciens », Insee Méthodes n° 128 released in July 2014.
At the time for publication of this Informations Rapides, around 30 indexes for big cities are not yet available. Between two publications, at the middle-quarter, the Insee Macro-economic database (BDM) and the historical data available on the web page of the index are updated so as to incorporate this information and update the data previously released.
Next data update: 30th September 2019
Next issue: 28 November 2019, 8:45 AM
