Further of the rise in the prices of second-hand dwellings and in the volume of transactions in Q1 2017Indexes of prices of second-hand dwellings - first quarter 2017

3 July 2017: The file of additional data has been updated compared to the publication of 30 May 2017.

In Q1 2017, the prices of second-hand dwellings kept increasing: +1.9% compared to the previous quarter (provisional seasonally adjusted results). The increase is virtually similar for flats (+1.9%) and for houses (+1.8%).

Over a year, the increase in prices was confirmed and strengthened: +3.0% compared to Q1 2016 after +1.5% the quarter before. This increase was larger for flats (+3.4%) than for houses (+2.6%).

Informations rapides
No 142
Paru le : 03/07/2017
Prochaine parution le : 30/11/2017 at 08:45 - third quarter 2017

In Q1 2017, the prices of second-hand dwellings kept increasing: +1.9% compared to the previous quarter (provisional seasonally adjusted results). The increase is virtually similar for flats (+1.9%) and for houses (+1.8%).

Over a year, the increase in prices was confirmed and strengthened: +3.0% compared to Q1 2016 after +1.5% the quarter before. This increase was larger for flats (+3.4%) than for houses (+2.6%).

In Île-de-France, the rise in the prices of second-hand dwellings intensified

In Q1 2017, the prices of second-hand dwellings in Île-de-France continued to rise: +1.8% compared to Q4 2016, after +0.4%.

Year-on-year, the rise in prices continued to strengthen: +3.8% compared to Q1 2016, after +2.6% and +2.0%. This rise was mainly buoyed by the prices of flats (+4.5%), especially for the flats in Paris which increased by 5.5% over a year. The prices of houses in Île-de-France also increased, albeit less markedly (+2.4%).

In provincial France, prices of second-hand dwellings also accelerated

In provincial France, the prices of second-hand dwelling rose by 1.9% between the fourth quarter of 2016 and the first quarter of 2017.

Over the year, prices were still increasing, but in a less markedly than in Île-de-France: +2,6% between Q1 2016 and Q1 2017. Unlike in Île-de-France, the rise was similar for houses (+2.6%) and for flats (+2.5%).

Graphique1a – Variation in prices of second-hand dwellings in metropolitan France over a year

  • Sources: INSEE, French notaries - Database Bien, Perval society

Graphique2a – Prices of second-hand dwellings in Île-de-France

  • Scope: Île-de-France
  • Sources: INSEE, French notaries - Database Bien, Perval society

Tableau1a – 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
2016 Q3 2016 Q4 (sd) 2017 Q1 (p) 2016 Q3 2016 Q4 (sd) 2017 Q1 (p)
France 0.8 0.4 1.9 1.3 1.5 3.0
Flats 0.5 0.6 1.9 1.0 1.6 3.4
Houses 1.0 0.2 1.8 1.6 1.4 2.6
  • (p): provisional; (sd): semi-definitive
  • Scope: Metropolitan France
  • Sources: INSEE, French notaries - Database Bien, Perval society

The annual volume of transactions continued to grow

In Q1 2017, the annual transaction volume continued to grow: in March, the number of transactions carried out over the last twelve months reached the historical level of 881,000. This volume of transactions was thus significantly higher than the one recorded one year before (809,000 in March 2016), and than the high level of December 2016 (845,000). This level has been reached in a context of trend growth in the number of existing dwellings (around +1% on average per year for thirty years).

Graphique3a – Volume of transactions of second-hand dwellings over the last 12 months

  • Scope: Metropolitan France
  • 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 April 2017, the change in prices in Q4 2016 has been revised downwards by −0.1 points overall (−0.3 for flats, −0.1 for houses). The overall change in prices in Q4 2016 stands at +0.4%, instead of +0.5% (figure published on 3 April) and +0.7% estimated on 23 February.

Tableau2a – 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
2016 Q3 2016 Q4 (sd) 2017 Q1 (p) 2016 Q3 2016 Q4 (sd) 2017 Q1 (p)
Metropolitan France 0.8 0.4 1.9 1.3 1.5 3.0
- Flats 0.5 0.6 1.9 1.0 1.6 3.4
- Houses 1.0 0.2 1.8 1.6 1.4 2.6
Île-de-France 0.7 0.4 1.8 2.0 2.6 3.8
Provincial France 0.9 0.3 1.9 1.0 1.0 2.6
Flats
Île-de-France 0.9 0.5 1.9 2.3 3.0 4.5
- Paris 1.1 1.3 1.4 3.6 4.3 5.5
- Seine-et-Marne 1.1 0.6 1.8 -0.1 0.7 3.6
- Yvelines 0.2 0.1 1.3 0.7 2.1 2.5
- Essonne 0.8 0.0 1.6 0.3 0.2 2.5
- Hauts-de-Seine 0.8 -0.4 2.8 2.0 2.5 4.2
- Seine-Saint-Denis 0.8 -0.8 3.2 1.2 0.9 3.7
- Val-de-Marne 0.8 -0.2 2.6 1.7 1.9 4.3
- Val-d'Oise 0.6 0.6 1.4 0.6 1.4 2.9
Provincial France 0.1 0.7 1.9 -0.2 0.4 2.5
- Conurbation > 10 000 inhabitants 0.2 0.7 ** -0.2 0.5 **
- Central town 0.3 0.6 ** 0.1 0.6 **
- Suburb -0.1 0.9 ** -0.6 0.2 **
- Conurbation < 10 000 inhabitants -0.1 0.1 ** -0.9 -0.3 **
Houses
Île-de-France 0.3 0.3 1.4 1.3 1.7 2.4
- Seine-et-Marne 0.5 0.3 1.2 1.2 1.3 2.3
- Yvelines 0.6 0.2 1.4 1.2 1.9 2.4
- Essonne 0.2 0.2 1.1 1.2 1.5 2.4
- Hauts-de-Seine -0.5 1.0 2.3 0.2 3.2 2.0
- Seine-Saint-Denis 0.3 0.2 1.1 1.8 1.1 3.0
- Val-de-Marne 0.0 0.2 1.5 1.5 1.8 2.5
- Val-d'Oise 0.9 -0.2 1.3 2.0 1.2 2.8
Provincial France 1.2 0.2 1.9 1.7 1.4 2.6
Nord-Pas de Calais 0.9 * ** 0.9 * **
- Flats -0.3 * ** -1.2 * **
- Houses 1.1 * ** 1.3 * **
- Lille Houses 1.4 * ** 1.2 * **
Provence-Alpes-Côte d'Azur 1.4 0.5 ** 0.4 0.6 **
- Flats 0.0 1.2 ** -0.8 0.5 **
- Houses 2.8 -0.1 ** 1.8 0.7 **
- Marseille Flats 1.3 -1.8 ** -0.9 -2.6 **
Rhône-Alpes 0.9 0.2 ** 2.0 1.2 **
- Flats 0.7 -0.1 ** 1.1 0.1 **
- Houses 1.0 0.5 ** 2.9 2.4 **
- Lyon Flats 1.0 0.4 ** 2.9 3.4 **
  • ** index released on 3 July 2017.
  • * data for Q4 2016 about Nord-Pas-de-Calais 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