Informations Rapides ·
27 May 2021 · n° 135
In Q1 2021, the rise in prices of second-hand dwellings continued, and was stronger
for houses than for flats Notaries-INSEE second-hand dwellings price index - first quarter 2021
In Q1 2021, the rise in prices of second-hand dwellings in France (excluding Mayotte) continued: +1.4% compared to Q4 2020 (provisional seasonally adjusted results), after +2.4% in Q4 and +0.6% in Q3 2020.
Over a year, the rise in prices continued as well: +5.9%, after +6.4% and +5.2%. Since the fourth quarter of 2020, this increase has been larger for houses (+6.5% over the year) than for flats (+5.1%), which had not happened since the end of 2016.
In Q1 2021, the rise in prices of second-hand dwellings in France (excluding Mayotte) continued: +1.4% compared to Q4 2020 (provisional seasonally adjusted results), after +2.4% in Q4 and +0.6% in Q3 2020.
Over a year, the rise in prices continued as well: +5.9%, after +6.4% and +5.2%. Since the fourth quarter of 2020, this increase has been larger for houses (+6.5% over the year) than for flats (+5.1%), which had not happened since the end of 2016.
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 | 3.4 | 2.9 | 2.6 |
| 2018-Q4 | 3.4 | 3.2 | 3.1 |
| 2019-Q1 | 3.8 | 3.0 | 2.5 |
| 2019-Q2 | 4.3 | 3.1 | 2.3 |
| 2019-Q3 | 4.0 | 3.2 | 2.5 |
| 2019-Q4 | 5.3 | 3.7 | 2.6 |
| 2020-Q1 | 6.4 | 4.9 | 3.9 |
| 2020-Q2 | 7.0 | 5.6 | 4.7 |
| 2020-Q3 | 6.6 | 5.2 | 4.3 |
| 2020-Q4 | 6.4 | 6.4 | 6.5 |
| 2021-Q1 | 5.1 | 5.9 | 6.5 |
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 | |||||
| 2020 Q3(d) | 2020 Q4(d) | 2021 Q1(p) | 2020 Q3(d) | 2020 Q4(d) | 2021 Q1(p) | |
| France | 0.6 | 2.4 | 1.4 | 5.2 | 6.4 | 5.9 |
| Flats | 0.7 | 1.5 | 1.0 | 6.6 | 6.4 | 5.1 |
| Houses | 0.4 | 3.0 | 1.7 | 4.3 | 6.5 | 6.5 |
- (p): provisional; (d): definitive.
- Scope: France (excluding Mayotte).
- Sources: Insee, ADSN – BIEN – Grand Paris notaries, French notaries, Perval society.
Prices of second-hand dwellings in Île-de-France rose again, driven by an increase in house prices
In Q1 2021, prices of second-hand dwellings in Île-de-France increased, but at a slower pace than in the previous quarter: +0.6% compared to Q4 2020, after +1.6% and +0.5%.
Over a year, prices continued to rise but slowed down: +4.7% between Q1 2020 and Q1 2021, after +6.3% in Q4 2020 and +6.1% in Q3 2020. Prices of houses accelerated (+7.1% over a year, after +6.8% in Q4 2020 and +4.8% in Q3 2020), but prices of flats slowed down (+3.6% over a year, after +6.1% in Q4 2020 and +6.7% in Q3 2020). The y-o-y rise in house prices has therefore been larger than the y-o-y rise in prices of flats since Q4 2020, which had not happened since 2016. The slowdown in flat prices was even stronger in Paris: +1.7% over a year in Q1 2021, after +5.5% in Q4 2020 and +7.0% in Q3 2020. Prices of Parisian flats even decreased between Q4 2020 and Q1 2021 (-0.9%).
The rise in prices of second-hand dwellings continued in provincial France
In Q1 2021, prices of second-hand dwellings in provincial France increased by +1.7%, after +2.7% in Q4 2020 and +0.5% in Q3 2020.
Over a year, the rise in prices continued: +6.4% between Q1 2020 and Q1 2021, after +6.5% and +4.9%. For the first time since 2018, the rise in prices of houses (+6.5% y-o-y) was stronger than the rise in prices of flats (+6.3%).
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 | 104.1 | 105.5 | 109.8 | 105.1 |
| 2018-Q2 | 104.4 | 106.1 | 111.1 | 105.8 |
| 2018-Q3 | 105.8 | 106.8 | 112.6 | 106.2 |
| 2018-Q4 | 105.9 | 107.6 | 113.7 | 107.1 |
| 2019-Q1 | 107.1 | 108.1 | 115.1 | 106.6 |
| 2019-Q2 | 108.3 | 108.8 | 116.8 | 107.0 |
| 2019-Q3 | 109.4 | 109.8 | 118.2 | 107.8 |
| 2019-Q4 | 111.1 | 110.8 | 120.4 | 108.0 |
| 2020-Q1 | 113.6 | 112.6 | 123.0 | 109.9 |
| 2020-Q2 | 115.5 | 113.9 | 125.2 | 112.0 |
| 2020-Q3 | 116.5 | 114.3 | 125.9 | 112.5 |
| 2020-Q4 | 118.5 | 117.9 | 127.5 | 115.2 |
| 2021-Q1 | 120.7 | 119.9 | 127.3 | 117.7 |
graphiqueSecond-hand dwellings price index in metropolitan France
- Scope: France métropolitaine.
- 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 | |||||
| 2020 Q3(d) | 2020 Q4(d) | 2021 Q1(p) | 2020 Q3(d) | 2020 Q4(d) | 2021 Q1(p) | |
| Metropolitan France | 0.5 | 2.4 | 1.4 | 5.2 | 6.4 | 5.9 |
| Île-de-France | 0.5 | 1.6 | 0.6 | 6.1 | 6.3 | 4.7 |
| Provincial France | 0.5 | 2.7 | 1.7 | 4.9 | 6.5 | 6.4 |
| - Auvergne-Rhône-Alpes | 0.8 | 2.7 | 2.1 | 5.5 | 6.9 | 7.2 |
| - Hauts-de-France | 0.0 | 2.7 | 1.1 | 4.4 | 7.1 | 5.5 |
| - Provence-Alpes-Côte d'Azur | 0.8 | 1.9 | 1.0 | 3.3 | 4.0 | 4.1 |
| Flats | 0.8 | 1.5 | 1.0 | 6.6 | 6.4 | 5.0 |
| Île-de-France | 0.6 | 1.3 | -0.1 | 6.7 | 6.1 | 3.6 |
| - Paris | 0.6 | 0.6 | -0.9 | 7.0 | 5.5 | 1.7 |
| - Immediate suburbs | 0.7 | 2.1 | 0.5 | 7.0 | 7.4 | 5.8 |
| - Outer suburbs | 0.1 | 1.6 | 0.7 | 5.2 | 5.1 | 4.4 |
| Provincial France | 0.9 | 1.7 | 1.9 | 6.5 | 6.7 | 6.3 |
| - Conurbation > 10 000 inhabitants | 0.9 | 1.7 | 1.9 | 6.7 | 6.8 | 6.4 |
| * Central town | 1.3 | 1.4 | 1.9 | 7.9 | 7.3 | 6.7 |
| * Suburb | 0.3 | 2.1 | 1.9 | 4.7 | 5.8 | 5.8 |
| - Conurbation < 10 000 inhabitants | 0.8 | 2.0 | 2.0 | 5.1 | 5.9 | 5.4 |
| - Auvergne-Rhône-Alpes | 1.3 | 1.6 | 2.1 | 7.2 | 7.1 | 7.4 |
| * Lyon | 3.0 | 0.2 | 1.2 | 11.5 | 9.2 | 8.6 |
| - Hauts-de-France | -0.8 | 3.0 | 2.6 | 5.9 | 7.1 | 6.5 |
| - Provence-Alpes-Côte d'Azur | 0.5 | 1.0 | 1.8 | 4.0 | 3.8 | 3.4 |
| * Marseille | * | * | 2.8 | * | 6.1 | 4.9 |
| Houses | 0.4 | 3.0 | 1.7 | 4.2 | 6.5 | 6.6 |
| Île-de-France | 0.5 | 2.4 | 2.2 | 4.8 | 6.8 | 7.1 |
| - Immediate suburbs | 1.0 | 3.1 | 1.4 | 5.5 | 8.3 | 7.4 |
| - Outer suburbs | 0.3 | 2.1 | 2.5 | 4.5 | 6.1 | 6.9 |
| Provincial France | 0.4 | 3.1 | 1.7 | 4.1 | 6.4 | 6.5 |
| - Auvergne-Rhône-Alpes | 0.4 | 3.6 | 2.0 | 4.0 | 6.7 | 7.1 |
| - Hauts-de-France | 0.2 | 2.6 | 0.9 | 4.2 | 7.1 | 5.4 |
| * Conurbation of Lille | 2.1 | 2.5 | 0.7 | 7.6 | 10.4 | 6.4 |
| - Provence-Alpes-Côte d'Azur | 1.2 | 2.8 | 0.4 | 2.7 | 4.2 | 4.7 |
- * The 2020Q2 and 2020Q3 indices for Marseille are not published because cover rates of notaries data are too low.
- For 2020Q2 indices for Provence-Alpes-Côte d'Azur, Hauts-de-France and the Lille conurbation, cover rates of notaries data are below the level required by the scientific board of notaries-Insee indices, which may reduce their accuracy.
- Additional data (for example by department in Île-de-France) are available on the web page of the indicator.
- (p): provisional; (d): definitive.
- Scope: Metropolitan France.
- Sources: Insee. ADSN – BIEN – Grand Paris notaries. French notaries. Perval society.
The annual number of transactions rose again at the end of March 2021
In Q1 2021, the annual number of transactions continued to increase: in March, the number was 1,080,000, after 1,024,000 in December. This is the second consecutive quarterly increase, following a decrease between late 2019 and the third quarter of 2020. Compared to the stock of available dwellings which increases by around 1% a year, the proportion of transactions is close to the peak observed in the end of 2019, and larger than the high level observed in the early 2000s.
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 | 803 |
| 2002-Q4 | 811 |
| 2003-Q1 | 798 |
| 2003-Q2 | 794 |
| 2003-Q3 | 806 |
| 2003-Q4 | 814 |
| 2004-Q1 | 824 |
| 2004-Q2 | 836 |
| 2004-Q3 | 827 |
| 2004-Q4 | 823 |
| 2005-Q1 | 826 |
| 2005-Q2 | 816 |
| 2005-Q3 | 821 |
| 2005-Q4 | 829 |
| 2006-Q1 | 834 |
| 2006-Q2 | 836 |
| 2006-Q3 | 832 |
| 2006-Q4 | 821 |
| 2007-Q1 | 813 |
| 2007-Q2 | 822 |
| 2007-Q3 | 821 |
| 2007-Q4 | 810 |
| 2008-Q1 | 796 |
| 2008-Q2 | 758 |
| 2008-Q3 | 717 |
| 2008-Q4 | 674 |
| 2009-Q1 | 610 |
| 2009-Q2 | 578 |
| 2009-Q3 | 568 |
| 2009-Q4 | 595 |
| 2010-Q1 | 656 |
| 2010-Q2 | 699 |
| 2010-Q3 | 737 |
| 2010-Q4 | 776 |
| 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 | 675 |
| 2013-Q3 | 687 |
| 2013-Q4 | 716 |
| 2014-Q1 | 733 |
| 2014-Q2 | 733 |
| 2014-Q3 | 722 |
| 2014-Q4 | 689 |
| 2015-Q1 | 691 |
| 2015-Q2 | 710 |
| 2015-Q3 | 750 |
| 2015-Q4 | 795 |
| 2016-Q1 | 807 |
| 2016-Q2 | 818 |
| 2016-Q3 | 824 |
| 2016-Q4 | 844 |
| 2017-Q1 | 876 |
| 2017-Q2 | 917 |
| 2017-Q3 | 949 |
| 2017-Q4 | 963 |
| 2018-Q1 | 960 |
| 2018-Q2 | 954 |
| 2018-Q3 | 958 |
| 2018-Q4 | 967 |
| 2019-Q1 | 984 |
| 2019-Q2 | 1016 |
| 2019-Q3 | 1042 |
| 2019-Q4 | 1067 |
| 2020-Q1 | 1038 |
| 2020-Q2 | 1007 |
| 2020-Q3 | 988 |
| 2020-Q4 | 1024 |
| 2021-Q1 | 1080 |
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 may be revised in order to include observations recorded after the previous publication.
In comparison with the results released on 25 February 2021, the q-o-q change in prices in Q3 2020 in France (excluding Mayotte) was not revised: the definitive estimate is +2.4%.
For further information
The calculation of indices 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 indices may be found in « Les indices Notaires-Insee de prix des logements anciens », Insee Méthodes n° 132 released in June 2019 (in French only).
Next issue: 9 September 2021, 8:45 AM.
Pour en savoir plus
The calculation of indices 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 indices may be found in « Les indices Notaires-Insee de prix des logements anciens », Insee Méthodes n° 132 released in June 2019 (in French only).
Next issue: 9 September 2021, 8:45 AM.