3 January 2017
2017- n° 307In Q3 2016, the prices of second hand housing kept increasing Notaries-INSEE second-hand dwellings price index - third quarter 2016
03/01/2017: The file of additional data has been updated compared to the publication of 24/11/2016.
In Q3 2016, prices of second-hand dwellings increased compared to Q2 2016 (+1.2 %, according to provisional seasonally adjusted results). The prices of flats increased again (+0.9%, after +0.4%), while the prices of houses, more volatile, bounced back (+1.4% after −0.4% in Q2 and +0.7% in Q1).
Therefore, for the third quarter in a row, the prices of second-hand dwellings increased over a year: +1.7% compared to Q3 2015, which was a sharper rise than the quarter before (+0.6%). This increase was stronger for houses (+2.0%) than flats (+1.4%).
In Q3 2016, prices of second-hand dwellings increased compared to Q2 2016 (+1.2 %, according to provisional seasonally adjusted results). The prices of flats increased again (+0.9%, after +0.4%), while the prices of houses, more volatile, bounced back (+1.4% after −0.4% in Q2 and +0.7% in Q1).
Therefore, for the third quarter in a row, the prices of second-hand dwellings increased over a year: +1.7% compared to Q3 2015, which was a sharper rise than the quarter before (+0.6%). This increase was stronger for houses (+2.0%) than flats (+1.4%).
The prices of second-hand dwellings in Île-de-France increased again
In Q3 2016, the prices of second-hand dwellings in Île-de-France continued to rise compared to the previous quarter: +0.9%, as in Q2 2016.
Year-on-year, the rise of prices became more significant: +2.2% compared to Q3 2015, after +1.5% and +0.2%. In Île-de-France, the prices of flats increased faster (+2.6% y-o-y, and even +3.6% in Paris) than the prices of houses (+1.2%).
In provincial France, prices also rose
In provincial France, the prices of second-hand dwelling rose between the second and the third quarter 2016 (+1.4%) after a slight downturn in Q2 2016.
Prices remained higher than one year before (+1.5%). The prices of flats increased for the first time since mid-2012 (+0.3% from Q3 2015), and the prices of houses remained on the rise (+2.1%).
graphiqueGraphique1a – Prices of second-hand dwellings in metropolitan France
- Sources: INSEE, French notaries - Database Bien, Perval society
graphiqueGraphique2a – Prices of second-hand dwellings in Île-de-France
- Scope: Île-de-France
- Sources: INSEE, French notaries - Database Bien, Perval society
tableauTableau1a – Variation in prices of second-hand dwellings in metropolitan France
| change in | ||||||
|---|---|---|---|---|---|---|
| 3 months (S.A.) | 12 months | |||||
| 2016 Q1 | 2016 Q2 (sd) | 2016 Q3 (p) | 2016 Q1 | 2016 Q2 (sd) | 2016 Q3 (p) | |
| France | 0.4 | -0.1 | 1.2 | 0.3 | 0.6 | 1.7 |
| Flats | 0.1 | 0.4 | 0.9 | -0.4 | 0.5 | 1.4 |
| Houses | 0.7 | -0.4 | 1.4 | 0.9 | 0.7 | 2.0 |
- (p): provisional; (sd): semi-definitive
- Scope: Metropolitan France
- Sources: INSEE, French notaries - Database Bien, Perval society
The annual volume of transactions exceeded the high level of the beginning of 2012
The annual transaction volume continued to grow in Q3 2016: the number of transactions carried out over the last twelve months is estimated at 838,000 in September, against 829,000 in June. It clearly exceeded the annual volume totted up one year before (755,000 in September 2015). This volume was even above the historic high levels reached in 2006 and in early 2012.
graphiqueGraphique3a – Volume 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 transactions recorded after the previous publication.
In comparison with the results released on 3 October 2016, the change in prices in Q2 2016 has not been revised. Compared to the estimate published on 8 September 2016, the overall change in prices in Q2 2016 has been revised downwards by 0.1 points, and stands at −0,1 % q−o−q instead of 0.0%.
Erratum of 2 May 2017: the scope of the volume of transactions is France excluding Mayotte, and not Metropolitan France as stated previously under the associated graph.
tableauTableau2a – Variation in prices of second-hand dwellings in metropolitan France
| Change in | ||||||
|---|---|---|---|---|---|---|
| 3 months (S.A.) | 12 months | |||||
| 2016 Q1 | 2016 Q2 (sd) | 2016 Q3 (p) | 2016 Q1 | 2016 Q2 (sd) | 2016 Q3 (p) | |
| Metropolitan France | 0.4 | -0.1 | 1.2 | 0.3 | 0.6 | 1.7 |
| - Flats | 0.1 | 0.4 | 0.9 | -0.4 | 0.5 | 1.4 |
| - Houses | 0.7 | -0.4 | 1.4 | 0.9 | 0.7 | 2.0 |
| Île-de-France | 0.5 | 0.9 | 0.9 | 0.2 | 1.5 | 2.2 |
| Provincial France | 0.4 | -0.5 | 1.4 | 0.3 | 0.2 | 1.5 |
| Flats | ||||||
| Île-de-France | 0.4 | 1.1 | 1.2 | 0.1 | 1.6 | 2.6 |
| - Paris | 0.2 | 1.5 | 1.2 | 1.3 | 3.0 | 3.6 |
| - Seine-et-Marne | -1.1 | 0.1 | 1.6 | -1.9 | -1.7 | 0.4 |
| - Yvelines | 0.9 | 0.8 | 1.0 | -1.0 | 0.5 | 1.5 |
| - Essonne | -0.6 | 0.1 | 1.4 | -1.2 | -0.7 | 0.9 |
| - Hauts-de-Seine | 1.1 | 1.1 | 1.2 | -0.6 | 1.0 | 2.4 |
| - Seine-Saint-Denis | 0.3 | 0.6 | 1.1 | -1.0 | 0.1 | 1.5 |
| - Val-de-Marne | 0.2 | 1.0 | 1.2 | -0.8 | 0.7 | 2.0 |
| - Val-d'Oise | -0.1 | 0.2 | 1.1 | -1.4 | -0.6 | 1.1 |
| Provincial France | -0.1 | -0.3 | 0.7 | -0.9 | -0.5 | 0.3 |
| - Conurbation > 10 000 inhabitants | 0.0 | -0.4 | ** | -0.8 | -0.5 | ** |
| - Central town | 0.0 | -0.3 | ** | -0.9 | -0.4 | ** |
| - Suburb | 0.0 | -0.6 | ** | -0.6 | -0.7 | ** |
| - Conurbation < 10 000 inhabitants | -1.0 | 0.6 | ** | -1.7 | -0.7 | ** |
| Houses | ||||||
| Île-de-France | 0.7 | 0.4 | 0.2 | 0.5 | 1.2 | 1.2 |
| - Seine-et-Marne | 0.2 | 0.3 | 0.6 | 0.1 | 0.6 | 1.3 |
| - Yvelines | 0.9 | 0.1 | 0.6 | 0.4 | 0.7 | 1.1 |
| - Essonne | 0.3 | 0.9 | 0.1 | -0.1 | 1.2 | 1.1 |
| - Hauts-de-Seine | 3.5 | -0.8 | -0.8 | 2.5 | 1.5 | -0.2 |
| - Seine-Saint-Denis | -0.8 | 1.4 | 0.1 | -0.3 | 2.7 | 1.6 |
| - Val-de-Marne | 0.8 | 0.9 | -0.3 | 0.6 | 2.0 | 1.3 |
| - Val-d'Oise | -0.2 | 0.8 | 0.9 | 0.2 | 1.1 | 2.0 |
| Provincial France | 0.7 | -0.6 | 1.7 | 0.9 | 0.6 | 2.1 |
| Nord-Pas de Calais | 0.2 | * | ** | 0.0 | * | ** |
| - Flats | 0.4 | * | ** | -1.6 | * | ** |
| - Houses | 0.1 | * | ** | 0.2 | * | ** |
| - Lille Houses | -0.8 | * | ** | -0.2 | * | ** |
| Provence-Alpes-Côte d'Azur | 0.9 | -2.2 | ** | 1.1 | -1.5 | ** |
| - Flats | -0.2 | -0.4 | ** | -0.9 | -1.3 | ** |
| - Houses | 2.2 | -4.1 | ** | 3.2 | -1.8 | ** |
| - Marseille Flats | -3.7 | 1.5 | ** | -3.1 | -2.7 | ** |
| Rhône-Alpes | 0.0 | * | ** | 0.7 | * | ** |
| - Flats | -0.3 | * | ** | -0.5 | * | ** |
| - Houses | 0.3 | * | ** | 1.9 | * | ** |
| - Lyon Flats | 1.3 | * | ** | 1.1 | * | ** |
- ** index released on 3 January 2017.
- * data for Q2 2016 about Nord-Pas-de-Calais and Rhône-Alpes could not be released here, because of an insufficient average rate in accordance with the criteria set out by the Scientific Board of the Notaires-INSEE indexes.
- (p): provisional ; (sd): semi-definitive
- Sources: INSEE, French notaries - Database Bien, Perval society
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