10 September 2015

2015- n° 219

In Q2 2015, prices of second-hand dwellings were still decreasing but the transactions started again Indexes of prices of second-hand dwellings - 2nd Quarter 2015

During the second quarter of 2015, prices of second-hand dwellings were still decreasing (–0.6% quarter-on-quarter according to provisional results, s.a. data), a little faster than in the previous quarter (–0.2%).

Year-on-year, prices of second-hand dwellings went down by 2.7%. It has been the strongest drop recorded since the beginning of the current period of price fall (middle of 2012). This drop was more important for flats (–3.1%) than for houses (–2.4%). Between the middle of 2012 and the end of 2014, on the contrary, prices of houses had fallen more than prices of flats.

In Île-de-France, prices of second-hand dwellings went on declining at a pace close to that observed since the end of 2014: –0.6% q-o-q, –2.6% y-o-y. This decrease was sharper than between the middle of 2012 and the end of 2014. There again, it was more important for flats (–3.0% y-o-y) than for houses (–1.9%).

In provincial France, prices of second-hand dwellings declined again in the second quarter 2015 (–0.6% q-o-q, –2.8% y-o-y), after a stability in the first quarter. As in Île-de-France, the decline was more marked for flats (–3.3% y-o-y) than for houses (–2.6%).

After decreasing since june 2014, the annual volume of transactions increased again in the second quarter of 2015. In june 2015, it was estimated at 716,000 over the last 12 months, against 694,000 in March 2015.

This volume of transaction remained however slightly lower than its level one year before (730,000 in June 2014, that is –1.9%).

The index is revised to include transactions recorded after the last publication. Furthermore, for this publication, the seasonal factors for provincial France has been revised. This could marginally change the figures since the beginning of 2008. In comparison to the results released on 7^th July, the change in prices in the first quarter of 2015 was revised downwards (–0.1 point) : –0.1 for houses, –0.2 for flats. The overall change in prices in Q1 2015 stood at –0.2%, instead of –0.1% (figure updated on 7^th July), and +0.3% estimated on May 28^th.