5 septembre 2019
N° 2019-232

In Q2 2019, prices of second-hand dwellings continued to growNotaries-INSEE second-hand dwellings price index - second quarter 2019

In Q2 2019, prices of second-hand dwellings in France (excluding Mayotte) were still increasing: +0.8% as compared to Q1 2019 (provisional seasonally adjusted results), at a slightly bigger rate than in the previous quarter (+0.6%).

Informations rapides
No 232
Paru le : Paru le 05/09/2019
Prochaine parution le : 28/11/2019 at 08:45 - third quarter 2019
Informations rapides  No 232 - septembre 2019

In Q2 2019, prices of second-hand dwellings in France (excluding Mayotte) were still increasing: +0.8% as compared to Q1 2019 (provisional seasonally adjusted results), at a slightly bigger rate than in the previous quarter (+0.6%).

Over a year, the rise of prices barely sped up : +3.2%, after +3.0%. As observed since the end of 2016, this increase was more important for flats (+4.3% over the year) than for houses (+2.4%).

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
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 3.3 2.9 2.6
2018-Q4 3.4 3.2 3.1
2019-Q1 3.7 3.0 2.5
2019-Q2 4.3 3.2 2.4

Variation 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.

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
2018 Q4 2019 Q1(sd) 2019 Q2(p) 2018 Q4 2019 Q1(sd) 2019 Q2(p)
France 0.8 0.6 0.8 3.2 3.0 3.2
Flats 0.6 1.2 1.2 3.4 3.8 4.3
Houses 0.9 0.2 0.5 3.1 2.5 2.4
  • (p): provisional; (sd): semi-definitive
  • Scope: France (excluding Mayotte)
  • Sources : Insee, ADSN – BIEN – Grand Paris notaries, French notaries, Perval society

In Île-de-France, prices of second-hand dwellings stayed dynamic

In Q2 2019, prices of second-hand dwellings’ price in Île-de-France sped up: +1.1% as compared to Q1 2019, after +0.6%.

Year on year, prices were still increasing at a sustained pace: +3.9% between Q2 2018 and Q2 2019, after +4.0% and +4.2%. Flats’ prices increased by +4.9% over the year while houses’ prices increased by 1.9%. Prices in inner Paris kept on driving flats’ prices: +6.3% over the year in Q2 2019, after +6.6% in Q1 2019 and +5.7% in Q4 2018. Excluding Paris, the annual rise in Île-de-France was +2,7% in Q2 2019.

Prices keeping on increasing for second-hand dwellings in provincial France

In Q2 2019, prices of second-hand dwelling in provincial France kept increasing at the same rate as the two previous quarters (+0.6%).

Over one year, prices increased almost at the same pace than previously: +2.8% between Q2 2018 and Q2 2019, after +2.6% and 2.8%. This increase was close to the one observed in the Île-de-France without Paris. Similarly to what was observed at the beginning of 2019, the annual rise in provincial France was in Q2 2019 more important for flats (+3.7%) than for houses (+2.4%).

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
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 104.2 105.4 109.8 104.8
2018-Q2 104.4 106.0 111.2 105.6
2018-Q3 105.8 106.8 112.5 106.1
2018-Q4 105.9 107.7 113.8 107.7
2019-Q1 107.3 108.1 115.1 107.1
2019-Q2 108.3 108.6 116.6 107.5

Second-hand dwellings price index in metropolitan France

  • Scope: metropolitan France.
  • Sources: Insee, ADSN-BIEN-Grand Paris notaries, French notaries, Perval society.

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
2018 Q4 2019 Q1(sd) 2019 Q2(p) 2018 Q4 2019 Q1(sd) 2019 Q2(p)
Metropolitan France 0.8 0.6 0.8 3.2 3.0 3.2
Île-de-France 1.2 0.6 1.1 4.2 4.0 3.9
Provincial France 0.6 0.6 0.6 2.8 2.6 2.8
- Auvergne-Rhône-Alpes 0.3 1.8 ** 2.9 3.9 **
- Hauts-de-France 0.3 0.4 ** 1.7 1.9 **
- Provence-Alpes-Côte d'Azur 0.2 0.1 ** 2.3 1.0 **
Flats 0.6 1.2 1.1 3.5 3.8 4.3
Île-de-France 1.1 1.2 1.3 4.6 4.8 4.9
- Paris 1.7 1.6 1.7 5.7 6.6 6.3
- Immediate suburbs 1.0 1.1 1.1 4.8 4.4 4.5
- Outer suburbs -0.3 0.2 0.9 0.9 0.7 1.6
Provincial France 0.1 1.3 1.0 2.4 2.9 3.7
- Conurbation > 10 000 inhabitants 0.1 1.4 ** 2.6 3.1 **
* Central town 0.2 1.4 ** 2.7 3.3 **
* Suburb 0.0 1.3 ** 2.3 2.7 **
- Conurbation < 10 000 inhabitants 0.5 0.4 ** 1.1 1.3 **
- Auvergne-Rhône-Alpes 0.4 1.1 ** 3.8 3.7 **
* Lyon 1.1 3.4 ** 7.8 9.4 **
- Hauts-de-France 0.2 1.0 ** 2.0 3.1 **
- Provence-Alpes-Côte d'Azur -0.1 1.5 ** 1.4 1.7 **
* Marseille -0.1 -0.8 ** 1.7 0.2 **
Houses 0.9 0.2 0.5 3.1 2.4 2.4
Île-de-France 1.5 -0.6 0.4 3.5 2.3 1.9
- Immediate suburbs 1.3 0.7 0.8 4.8 4.4 4.5
- Outer suburbs 0.7 -0.5 0.7 0.9 0.7 1.6
Provincial France 0.8 0.3 0.5 3.0 2.5 2.4
- Auvergne-Rhône-Alpes 0.1 2.5 ** 2.3 4.2 **
- Hauts-de-France 0.4 0.3 ** 2.0 3.1 **
* Conurbation of Lille 1.3 0.6 ** 4.2 4.6 **
- Provence-Alpes-Côte d'Azur 0.5 -1.3 ** 3.3 0.4 **
  • ** index released on 30th of September 2019
  • Additional data (for example by department in Île-de-France) are available on the web page of the indicator
  • (p): provisional ; (sd): semi-definitive
  • Scope: Metropolitan France
  • Sources : Insee. ADSN – BIEN – Grand Paris notaries. French notaries. Perval society

The annual number of transactions remained high

In Q2 2019, the annual number of transactions remained at a high level: in June, it reached 1,017,000 on a yearly basis, more than the one recorded one quarter earlier (985,000 at the end of March) and than the one recorded one year earlier (956,000). Compared to the stock of available dwellings which increases by around 1% a year, the proportion of transactions was similar in Q2 2019 to what was observed in the early 2000.

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
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 802
2002-Q4 811
2003-Q1 797
2003-Q2 793
2003-Q3 805
2003-Q4 813
2004-Q1 822
2004-Q2 835
2004-Q3 826
2004-Q4 822
2005-Q1 825
2005-Q2 815
2005-Q3 820
2005-Q4 828
2006-Q1 833
2006-Q2 835
2006-Q3 831
2006-Q4 819
2007-Q1 812
2007-Q2 821
2007-Q3 821
2007-Q4 809
2008-Q1 795
2008-Q2 756
2008-Q3 716
2008-Q4 673
2009-Q1 610
2009-Q2 578
2009-Q3 568
2009-Q4 594
2010-Q1 656
2010-Q2 698
2010-Q3 736
2010-Q4 775
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 676
2013-Q3 690
2013-Q4 720
2014-Q1 736
2014-Q2 736
2014-Q3 727
2014-Q4 694
2015-Q1 697
2015-Q2 715
2015-Q3 754
2015-Q4 798
2016-Q1 809
2016-Q2 819
2016-Q3 825
2016-Q4 845
2017-Q1 877
2017-Q2 917
2017-Q3 949
2017-Q4 964
2018-Q1 960
2018-Q2 956
2018-Q3 958
2018-Q4 965
2019-Q1 985
2019-Q2 1017

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 in order to include observations recorded after the previous publication.

In comparison with the results released on 1st July 2019, the change in prices in Q1 2019 in metropolitan France was revised downwards. The overall change in prices in Q1 2019 stood at +0.6% compared to Q4 2018, instead of +0.8%.

Encadré

For further information

The calculation of indexes 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 indexes may be found in « Les indices Notaires-Insee de prix des logements anciens », Insee Méthodes n° 128 released in July 2014.

At the time for publication of this Informations Rapides, around 30 indexes for big cities are not yet available. Between two publications, at the middle-quarter, the Insee Macro-economic database (BDM) and the historical data available on the web page of the index are updated so as to incorporate this information and update the data previously released.

Next data update: 30th September 2019

Next issue: 28 November 2019, 8:45 AM

The calculation of indexes 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 indexes may be found in « Les indices Notaires-Insee de prix des logements anciens », Insee Méthodes n° 128 released in July 2014.

At the time for publication of this Informations Rapides, around 30 indexes for big cities are not yet available. Between two publications, at the middle-quarter, the Insee Macro-economic database (BDM) and the historical data available on the web page of the index are updated so as to incorporate this information and update the data previously released.

Next data update: 30th September 2019

Next issue: 28 November 2019, 8:45 AM


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