Insee
Informations Rapides · 28 May 2024 · n° 130
Informations rapidesIn Q1 2024, the fall of prices of second-hand dwellings continued (‑1.6%) Notaries-INSEE second-hand dwellings price index - first quarter 2024

In Q1 2024, prices of second-hand dwellings in France (excluding Mayotte) fell again over a quarter and more sharply than in previous quarter: ‑1.6% (provisional seasonally adjusted results), after ‑1.8% in Q4 2023 and -1.1% in Q3 2023.

Over a year, prices declined for the third quarter in a row: ‑5.2% in Q1 2024, after ‑3.9% in Q4 2023 and ‑1.86% in Q3 2023. Prices fell by 5.5% for flats and by 4.9% for houses.

Informations rapides
No 130
Paru le :Paru le28/05/2024

In Q1 2024, prices of second-hand dwellings in France (excluding Mayotte) fell again over a quarter and more sharply than in previous quarter: ‑1.6% (provisional seasonally adjusted results), after ‑1.8% in Q4 2023 and -1.1% in Q3 2023.

Over a year, prices declined for the third quarter in a row: ‑5.2% in Q1 2024, after ‑3.9% in Q4 2023 and ‑1.86% in Q3 2023. Prices fell by 5.5% for flats and by 4.9% for houses.

Variation in prices of second-hand dwellings in France over a year

Variation in prices of second-hand dwellings in France over a year
France - flats France France - houses
2024-Q1 -5.5 -5.2 -4.9
2023-Q4 -4.1 -3.9 -3.8
2023-Q3 -2.0 -1.8 -1.6
2023-Q2 0.0 0.5 0.9
2023-Q1 2.1 2.7 3.0
2022-Q4 3.4 4.6 5.5
2022-Q3 4.1 6.4 8.1
2022-Q2 4.5 6.8 8.5
2022-Q1 4.7 7.3 9.1
2021-Q4 4.6 7.1 9.0
2021-Q3 5.3 7.5 9.0
2021-Q2 4.9 6.3 7.3
2021-Q1 5.1 6.0 6.6
2020-Q4 6.4 6.4 6.5
2020-Q3 6.6 5.2 4.3
2020-Q2 7.0 5.6 4.7
2020-Q1 6.4 4.9 3.9
2019-Q4 5.3 3.7 2.6
2019-Q3 4.0 3.2 2.5
2019-Q2 4.3 3.1 2.3
2019-Q1 3.8 3.0 2.5
2018-Q4 3.4 3.2 3.1
2018-Q3 3.4 2.9 2.6
2018-Q2 3.3 2.8 2.5
2018-Q1 3.8 2.9 2.3
2017-Q4 4.3 3.3 2.5
2017-Q3 4.5 3.2 2.4
2017-Q2 3.7 3.1 2.6
2017-Q1 3.0 2.5 2.1
2016-Q4 1.6 1.5 1.4
2016-Q3 1.0 1.3 1.5
2016-Q2 0.5 0.6 0.7
2016-Q1 -0.4 0.3 0.9
2015-Q4 -1.1 -0.4 0.2
2015-Q3 -2.0 -1.8 -1.6
2015-Q2 -3.0 -2.6 -2.4
2015-Q1 -2.8 -2.4 -2.1
2014-Q4 -2.4 -2.5 -2.6
2014-Q3 -2.0 -1.4 -1.0
2014-Q2 -1.3 -1.4 -1.4
2014-Q1 -1.4 -1.9 -2.2
2013-Q4 -1.8 -1.9 -2.0
2013-Q3 -1.7 -2.3 -2.8
2013-Q2 -1.9 -2.2 -2.5
2013-Q1 -1.5 -2.0 -2.4
2012-Q4 -1.4 -2.1 -2.6
2012-Q3 -0.8 -1.7 -2.3
2012-Q2 1.0 -0.3 -1.2
2012-Q1 3.8 1.8 0.4
2011-Q4 6.2 3.7 1.8
2011-Q3 8.8 6.2 4.2
2011-Q2 10.0 7.1 4.9
2011-Q1 9.5 7.1 5.3
  • Note: data for the last quarter are provisional.

Variation in prices of second-hand dwellings in France over a year

  • Note: data for the last quarter are provisional.
  • Scope: France (excluding Mayotte).
  • Sources: INSEE, French notaries - ADSN Group, Grand Paris notaries - PNS.

Variation in prices of second-hand dwellings in France

Variation in prices of second-hand dwellings in France
change in
3 months (S.A.) 12 months
2023 Q3 (d) 2023 Q4 (d) 2024 Q1 (p) 2023 Q3 (d) 2023 Q4 (d) 2024 Q1 (p)
France -1.1 -1.8 -1.6 -1.8 -3.9 -5.2
Flats -1.2 -1.8 -1.5 -2.0 -4.1 -5.5
Houses -1.0 -1.8 -1.6 -1.6 -3.8 -4.9
  • (p): provisional; (d): definitive.
  • Scope: France (excluding Mayotte).
  • Sources: INSEE, ADSN – BIEN – Grand Paris notaries, French notaries, Perval society.

Second-hand dwelling prices continued to fall in Île-de-France

In Q1 2024, the prices of second-hand dwellings in Île-de-France went down over a quarter for the sixth quarter in a row: ‑2.6%, after ‑1.7% in Q4 2023 and ‑2.1% in Q3 2023. The fall was more marked for houses (-3.2%) than for flats (-2.3%), in contrast to the previous quarter (-1.2% for houses and -1.9% for flats). Flat prices continued to fall in Paris (‑2.4% in Q1 2024 after ‑2.0% in Q4 2023), immediate suburbs (‑2.6% after ‑1.8%) and the outer suburbs (‑1.3% after ‑1.9%).

Over a year, prices of second-hand dwellings in Île-de-France fell sharply in Q1 2024: ‑8.1%, after ‑6.9% in Q4 2023 and ‑5.4% in Q3 2023. They fell slightly more for houses (‑8.4% after ‑6.8%) than for flats in Île-de-France (‑7.9% after ‑7.0%). The year-on-year fall in flat prices continued to fall in Paris (‑7.9% after ‑6.9%), immediate suburbs (‑8.4% after ‑7.5%) and the outer suburbs (‑7.0% after ‑6.2%).

In Provincial France, the decline in prices of second-hand dwellings eased over a quarter, but intensified over a year

In Q1 2024, the fall in prices of second-hand dwellings in Provincial France eased: ‑1.2% after ‑1.9% in Q4 2023 and ‑0.8 in Q3 2023.

Over a year, prices fell for the third time in a row: ‑4.2% in Q1 2024, after ‑2.9% in Q4 2023. The decline in prices intensified for house (‑4.4% after ‑3.3%), as well as for flats (‑3.8% after ‑2.0).

Second-hand dwellings price index in metropolitan France

Second-hand dwellings price index in metropolitan France
Province - flats Province - houses Île-de-France - flats Île-de-France - houses
2024-Q1 131.1 130.3 117.0 114.9
2023-Q4 132.6 132.0 119.8 118.7
2023-Q3 135.0 134.6 122.1 120.1
2023-Q2 136.1 135.6 124.3 123.3
2023-Q1 136.3 136.2 127.1 125.4
2022-Q4 135.3 136.4 128.7 127.2
2022-Q3 134.4 136.1 129.1 127.1
2022-Q2 132.4 133.8 129.0 125.5
2022-Q1 130.1 131.6 128.7 124.5
2021-Q4 128.2 128.8 127.7 122.8
2021-Q3 125.4 125.4 128.6 120.6
2021-Q2 123.2 122.7 127.9 118.7
2021-Q1 120.6 119.8 127.4 117.5
2020-Q4 118.6 117.7 127.6 115.5
2020-Q3 116.5 114.5 125.7 112.5
2020-Q2 115.2 114.1 125.2 111.9
2020-Q1 113.5 112.5 123.0 109.6
2019-Q4 111.2 110.7 120.5 108.2
2019-Q3 109.4 109.9 118.2 107.9
2019-Q2 108.1 108.9 116.7 106.8
2019-Q1 107.0 108.0 115.2 106.3
2018-Q4 106.0 107.5 113.7 107.3
2018-Q3 105.8 106.9 112.6 106.2
2018-Q2 104.2 106.1 111.1 105.8
2018-Q1 104.1 105.4 109.8 105.0
2017-Q4 103.3 104.2 108.8 104.4
2017-Q3 103.1 104.0 108.0 103.8
2017-Q2 102.3 103.3 106.1 103.1
2017-Q1 101.6 103.0 104.5 102.5
2016-Q4 100.2 101.7 103.0 101.6
2016-Q3 99.6 101.6 102.2 101.3
2016-Q2 99.5 100.6 101.4 100.9
2016-Q1 99.6 100.9 100.4 100.5
2015-Q4 99.8 100.4 100.1 99.9
2015-Q3 99.9 100.0 99.9 100.0
2015-Q2 99.9 99.9 99.8 99.7
2015-Q1 100.6 100.0 100.3 100.0
2014-Q4 100.9 100.2 101.2 100.3
2014-Q3 102.2 101.7 101.5 101.6
2014-Q2 103.2 102.4 102.6 101.6
2014-Q1 103.6 102.2 103.0 102.2
2013-Q4 104.0 102.8 102.9 103.3
2013-Q3 104.1 102.7 103.5 103.4
2013-Q2 104.3 103.6 104.2 104.5
2013-Q1 105.0 104.4 104.6 104.9
2012-Q4 105.8 104.9 104.7 105.2
2012-Q3 106.1 105.9 105.2 105.0
2012-Q2 107.2 106.5 105.2 106.2
2012-Q1 107.8 107.1 105.1 106.9
2011-Q4 108.0 107.7 105.5 107.1
2011-Q3 108.0 108.4 105.0 107.0
2011-Q2 107.2 108.1 103.4 105.7
2011-Q1 106.1 107.2 99.2 103.8
2010-Q4 105.4 106.4 95.6 102.0
2010-Q3 103.9 104.7 92.0 100.0
2010-Q2 102.4 103.6 89.4 98.8
2010-Q1 101.0 102.4 86.8 97.2
2009-Q4 99.3 100.9 84.1 93.8
2009-Q3 98.3 99.9 82.7 93.2
2009-Q2 98.0 100.0 82.3 92.8
2009-Q1 99.5 101.9 84.7 95.8
2008-Q4 102.3 105.2 87.6 101.0
2008-Q3 104.8 108.9 89.0 104.4
2008-Q2 106.4 110.3 89.2 105.9
2008-Q1 106.7 111.3 88.4 105.9
2007-Q4 106.3 110.9 87.6 106.3
2007-Q3 104.8 109.6 85.4 105.0
2007-Q2 103.6 108.6 84.0 104.5
2007-Q1 102.7 107.2 82.6 103.5
2006-Q4 101.9 105.9 81.0 100.7
2006-Q3 100.0 103.8 79.5 99.5
2006-Q2 97.6 101.9 78.0 97.5
2006-Q1 95.3 99.5 75.8 95.0
2005-Q4 92.1 96.8 73.5 91.8
2005-Q3 89.0 94.3 71.5 88.4
2005-Q2 86.1 91.2 68.6 85.4
2005-Q1 82.5 88.4 66.2 82.1
2004-Q4 79.5 85.3 63.8 79.4
2004-Q3 76.2 82.2 61.4 77.0
2004-Q2 73.0 79.5 59.4 74.1
2004-Q1 70.3 77.1 57.2 72.0
2003-Q4 66.6 74.6 55.1 69.7
2003-Q3 64.4 72.3 53.3 66.8
2003-Q2 62.0 70.4 51.9 65.0
2003-Q1 59.7 68.5 50.3 63.5
2002-Q4 58.0 67.0 48.8 62.2
2002-Q3 56.2 65.2 47.4 61.4
2002-Q2 54.3 63.4 46.1 60.1
2002-Q1 52.8 62.0 44.8 58.8
2001-Q4 51.8 60.7 44.2 58.5
2001-Q3 50.5 59.6 43.5 58.0
2001-Q2 50.0 58.6 42.5 57.5
2001-Q1 48.9 57.3 41.9 55.8
2000-Q4 47.8 56.1 40.9 54.8
2000-Q3 47.3 55.2 40.3 54.1
2000-Q2 46.4 54.0 39.4 52.9
2000-Q1 45.7 53.1 38.4 52.2
  • Note: data for the last quarter are provisional.

Second-hand dwellings price index in metropolitan France

  • Note: data for the last quarter are provisional.
  • Scope: Metropolitan France.
  • Sources: INSEE, French notaries - ADSN Group, Grand Paris notaries - PNS.

Variation in prices of second-hand dwellings in metropolitan France

Variation in prices of second-hand dwellings in metropolitan France
Change in
3 months (S.A.) 12 months
2023 Q3 (d) 2023 Q4 (d) 2024 Q1 (p) 2023 Q3 (d) 2023 Q4 (d) 2024 Q1 (p)
Metropolitan France -1.1 -1.8 -1.6 -1.8 -3.9 -5.2
Île-de-France -2.1 -1.7 -2.6 -5.4 -6.9 -8.1
Provincial France -0.8 -1.9 -1.2 -0.5 -2.9 -4.2
- Auvergne-Rhône-Alpes -0.8 -2.4 -1.4 -1.5 -4.0 -5.2
- Hauts-de-France -1.3 -1.3 -2.1 -3.1 -4.3 -5.3
- Provence-Alpes-Côte d'Azur -0.3 -1.4 -1.0 1.6 -0.6 -1.8
Flats -1.2 -1.8 -1.6 -2.0 -4.1 -5.5
Île-de-France -1.8 -1.9 -2.3 -5.4 -7.0 -7.9
- Paris -1.4 -2.0 -2.4 -5.4 -6.9 -7.9
- Immediate suburbs -2.1 -1.8 -2.6 -6.0 -7.5 -8.4
- Outer suburbs -2.2 -1.9 -1.3 -4.0 -6.2 -7.0
Provincial France -0.8 -1.8 -1.1 0.5 -2.0 -3.8
- Conurbation > 10 000 inhabitants -1.0 -1.9 -1.1 0.1 -2.4 -4.1
* Central town -1.2 -2.2 -1.0 -0.4 -3.2 -4.7
* Suburb -0.7 -1.3 -1.2 1.0 -1.1 -3.1
- Conurbation < 10 000 inhabitants 0.5 -1.0 -1.3 3.8 1.4 -1.0
- Auvergne-Rhône-Alpes -1.4 -1.7 -1.7 -0.9 -3.4 -5.1
* Lyon -3.1 -2.6 -1.9 -7.2 -9.3 -9.8
- Hauts-de-France 1.1 -1.3 -2.2 -0.2 -0.8 -4.8
- Provence-Alpes-Côte d'Azur -0.3 -1.2 -1.1 3.2 1.0 -1.2
* Marseille -1.0 -3.5 -0.8 0.6 -3.3 -5.7
Houses -1.0 -1.8 -1.6 -1.6 -3.8 -4.9
Île-de-France -2.6 -1.2 -3.2 -5.4 -6.8 -8.4
- Immediate suburbs -2.9 -0.2 -3.7 -6.0 -5.7 -8.4
- Outer suburbs -2.5 -1.6 -3.0 -5.2 -7.3 -8.3
Provincial France -0.8 -1.9 -1.3 -1.0 -3.3 -4.4
- Auvergne-Rhône-Alpes -0.3 -3.0 -1.2 -2.0 -4.5 -5.3
- Hauts-de-France -1.8 -1.3 -2.1 -3.6 -5.0 -5.4
* Conurbation of Lille -3.5 0.6 -3.4 -5.4 -5.2 -7.2
- Provence-Alpes-Côte d'Azur -0.3 -1.5 -0.9 0.1 -2.1 -2.4
  • 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 continued to fall

At the end of March 2024, the annual number of transactions over the last twelve months was estimated at 822,000, after 869,000 at the end of December 2023 and 931,000 at the end of September 2023. The annual volume of transactions kept falling since the end of September 2021. The proportion of transactions concerned 2.2% of the dwelling stock, decreasing since the high point in Q3 2021 (3.2%) and now below the level of the early 2000s, prior the economics crisis of 2008.

Volume of transactions of second-hand dwellings over the last 12 months

Volume of transactions of second-hand dwellings over the last 12 months
Volume of transactions of second-hand dwellings over the last 12 months
2024-Q1 822
2023-Q4 869
2023-Q3 931
2023-Q2 1002
2023-Q1 1070
2022-Q4 1115
2022-Q3 1137
2022-Q2 1160
2022-Q1 1177
2021-Q4 1175
2021-Q3 1201
2021-Q2 1151
2021-Q1 1078
2020-Q4 1025
2020-Q3 993
2020-Q2 1015
2020-Q1 1047
2019-Q4 1077
2019-Q3 1053
2019-Q2 1026
2019-Q1 992
2018-Q4 975
2018-Q3 964
2018-Q2 958
2018-Q1 962
2017-Q4 964
2017-Q3 949
2017-Q2 917
2017-Q1 876
2016-Q4 843
2016-Q3 824
2016-Q2 817
2016-Q1 807
2015-Q4 795
2015-Q3 750
2015-Q2 710
2015-Q1 691
2014-Q4 689
2014-Q3 722
2014-Q2 733
2014-Q1 733
2013-Q4 716
2013-Q3 687
2013-Q2 675
2013-Q1 661
2012-Q4 708
2012-Q3 734
2012-Q2 781
2012-Q1 816
2011-Q4 801
2011-Q3 821
2011-Q2 807
2011-Q1 796
2010-Q4 776
2010-Q3 737
2010-Q2 699
2010-Q1 656
2009-Q4 595
2009-Q3 568
2009-Q2 578
2009-Q1 610
2008-Q4 674
2008-Q3 717
2008-Q2 758
2008-Q1 796
2007-Q4 810
2007-Q3 821
2007-Q2 822
2007-Q1 813
2006-Q4 821
2006-Q3 832
2006-Q2 836
2006-Q1 834
2005-Q4 829
2005-Q3 821
2005-Q2 816
2005-Q1 826
2004-Q4 823
2004-Q3 827
2004-Q2 836
2004-Q1 824
2003-Q4 814
2003-Q3 806
2003-Q2 794
2003-Q1 798
2002-Q4 811
2002-Q3 803
2002-Q2 799
2002-Q1 793
2001-Q4 784
2001-Q3 791
2001-Q2 789
2001-Q1 785
2000-Q4 793
2000-Q3 780
2000-Q2 768
2000-Q1 755
  • Note: data for the last quarter are provisional.

Volume of transactions of second-hand dwellings over the last 12 months

  • Note: data for the last quarter are provisional.
  • Scope: France (excluding Mayotte).
  • Sources: IGEDD, 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 29 February 2024, the quarterly change in prices of second-hand dwellings in France (excluding Mayotte) in Q4 2023 is not revised (after rounding): ‑1.8%.

For further information

Notaries-INSEE second-hand dwellings price index

The calculation of indices is based on the transactions completed over 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 number 132 released in June 2019 (in French only).

Next issue: 10 September 2024 at 8:45 am.

Pour en savoir plus

Notaries-INSEE second-hand dwellings price index

The calculation of indices is based on the transactions completed over 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 number 132 released in June 2019 (in French only).

Next issue: 10 September 2024 at 8:45 am.

: bureau-de-presse@insee.fr