Informations Rapides ·
9 September 2021 · n° 232
In Q2 2021, the rise in prices of second-hand dwellings continued in provincial France,
while price were almost stable in Île-de-France Notaries-INSEE second-hand dwellings price index - second quarter 2021
In Q2 2021, the rise in prices of second-hand dwellings in France (excluding Mayotte) continued: +1.6% compared to Q1 2021 (provisional seasonally adjusted results), after +1.2% in Q1 and +2.2% in Q4 2020.
Over a year, the rise in prices continued as well: +5.9%, after +6.0% and +6.4%. Since the fourth quarter of 2020, this increase has been larger for houses (+6.9% over the year) than for flats (+4.6%), which had not happened since the end of 2016.
In Q2 2021, the rise in prices of second-hand dwellings in France (excluding Mayotte) continued: +1.6% compared to Q1 2021 (provisional seasonally adjusted results), after +1.2% in Q1 and +2.2% in Q4 2020.
Over a year, the rise in prices continued as well: +5.9%, after +6.0% and +6.4%. Since the fourth quarter of 2020, this increase has been larger for houses (+6.9% over the year) than for flats (+4.6%), which had not happened since the end of 2016.
tableauVariation 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 | 3.4 | 2.9 | 2.6 |
| 2018-Q4 | 3.4 | 3.2 | 3.1 |
| 2019-Q1 | 3.8 | 3.0 | 2.5 |
| 2019-Q2 | 4.3 | 3.1 | 2.3 |
| 2019-Q3 | 4.0 | 3.2 | 2.5 |
| 2019-Q4 | 5.3 | 3.7 | 2.6 |
| 2020-Q1 | 6.4 | 4.9 | 3.9 |
| 2020-Q2 | 7.0 | 5.6 | 4.7 |
| 2020-Q3 | 6.6 | 5.2 | 4.3 |
| 2020-Q4 | 6.4 | 6.4 | 6.5 |
| 2021-Q1 | 5.1 | 6.0 | 6.6 |
| 2021-Q2 | 4.6 | 5.9 | 6.9 |
graphiqueVariation 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.
tableauVariation in prices of second-hand dwellings in France
| change in | ||||||
|---|---|---|---|---|---|---|
| 3 months (S.A.) | 12 months | |||||
| 2020 Q4 (d) | 2021 Q1 (d) | 2021 Q2 (p) | 2020 Q4 (d) | 2021 Q1 (d) | 2021 Q2 (p) | |
| France | 2.2 | 1.2 | 1.6 | 6.4 | 6.0 | 5.9 |
| Flats | 1.5 | 0.8 | 1.2 | 6.4 | 5.1 | 4.6 |
| Houses | 2.7 | 1.5 | 1.8 | 6.5 | 6.6 | 6.9 |
- (p): provisional; (d): definitive.
- Scope: France (excluding Mayotte).
- Sources: INSEE, ADSN – BIEN – Grand Paris notaries, French notaries, Perval society.
Prices of second-hand dwellings were almost stable in Île-de-France
In Q2 2021, prices of second-hand dwellings in Île-de-France were almost stable: +0.1% compared to Q1 2021, after +0.5% and +1.7%.
Over a year, prices slowed down: +3.1% between Q2 2020 and Q2 2021, after +4.8% in Q1 2021 and +6.3% in Q4 2020. The slowdown concerns both house prices (+5.1% over a year, after +7.3% in Q1 2021 and +6.8% in Q4 2020) and prices of flats (+2.1% over a year, after +3.6% and +6.1%). In the same way as for France as a whole, the y-o-y rise in house prices has therefore been larger than the y-o-y rise in prices of flats since Q4 2020, which had not happened since 2016.
In Paris, for the second quarter in a row, prices of flats decreased: -0.6% between Q1 and Q2 2021, after -1.1% between Q4 2020 and Q1 2021. Over a year, prices of Parisian flats were nevertheless almost stable (-0.2%).
The rise in prices of second-hand dwellings continued in provincial France
In Q2 2021, prices of second-hand dwellings in provincial France increased by +2.1%, after +1.5% in Q1 2021 and +2.4% in Q4 2020.
Over a year, the rise in prices intensified: +7.0% between Q2 2020 and Q2 2021, after +6.4% and +6.5%. As in Q1 2021, the rise in prices of houses (+7.1% y-o-y in Q2 2021) was stronger than the rise in prices of flats (+6.7%), which had not happened since 2018.
tableauSecond-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 | 104.0 | 105.3 | 109.7 | 105.0 |
| 2018-Q2 | 104.3 | 106.1 | 111.0 | 105.8 |
| 2018-Q3 | 105.8 | 107.0 | 112.7 | 106.2 |
| 2018-Q4 | 106.1 | 107.6 | 113.7 | 107.2 |
| 2019-Q1 | 107.0 | 107.9 | 115.1 | 106.4 |
| 2019-Q2 | 108.2 | 108.8 | 116.7 | 106.7 |
| 2019-Q3 | 109.4 | 110.1 | 118.3 | 107.9 |
| 2019-Q4 | 111.3 | 110.8 | 120.5 | 108.1 |
| 2020-Q1 | 113.4 | 112.3 | 122.9 | 109.9 |
| 2020-Q2 | 115.3 | 113.9 | 125.1 | 111.9 |
| 2020-Q3 | 116.6 | 114.7 | 126.1 | 112.6 |
| 2020-Q4 | 118.7 | 117.8 | 127.6 | 115.4 |
| 2021-Q1 | 120.5 | 119.5 | 127.3 | 117.8 |
| 2021-Q2 | 123.1 | 122.0 | 127.6 | 117.6 |
graphiqueSecond-hand dwellings price index in metropolitan France
- Scope: Metropolitan France.
- Sources: INSEE, ADSN-BIEN-Grand Paris notaries, French notaries, Perval society.
tableauVariation in prices of second-hand dwellings in metropolitan France
| Change in | ||||||
|---|---|---|---|---|---|---|
| 3 months (S.A.) | 12 months | |||||
| 2020 Q4 (d) | 2021 Q1 (d) | 2021 Q2 (p) | 2020 Q4 (d) | 2021 Q1 (d) | 2021 Q2 (p) | |
| Metropolitan France | 2.2 | 1.2 | 1.5 | 6.4 | 6.0 | 5.9 |
| Île-de-France | 1.7 | 0.5 | 0.1 | 6.3 | 4.8 | 3.1 |
| Provincial France | 2.4 | 1.5 | 2.1 | 6.5 | 6.4 | 7.0 |
| - Auvergne-Rhône-Alpes | 2.5 | 2.0 | 1.3 | 6.9 | 7.0 | 6.9 |
| - Hauts-de-France | 2.5 | 0.6 | 1.2 | 7.1 | 5.6 | 5.0 |
| - Provence-Alpes-Côte d'Azur | 1.7 | 1.0 | 2.4 | 4.0 | 4.2 | 6.1 |
| Flats | 1.5 | 0.7 | 1.2 | 6.4 | 5.1 | 4.6 |
| Île-de-France | 1.2 | -0.2 | 0.2 | 6.1 | 3.6 | 2.1 |
| - Paris | 0.6 | -1.1 | -0.6 | 5.5 | 1.8 | -0.2 |
| - Immediate suburbs | 2.0 | 0.4 | 0.8 | 7.4 | 5.8 | 4.4 |
| - Outer suburbs | 1.5 | 0.7 | 1.3 | 5.1 | 4.5 | 4.1 |
| Provincial France | 1.8 | 1.5 | 2.1 | 6.7 | 6.3 | 6.7 |
| - Conurbation > 10 000 inhabitants | 1.8 | 1.6 | 2.0 | 6.8 | 6.4 | 6.7 |
| * Central town | 1.6 | 1.6 | 1.9 | 7.3 | 6.8 | 6.7 |
| * Suburb | 2.1 | 1.5 | 2.3 | 5.8 | 5.8 | 6.7 |
| - Conurbation < 10 000 inhabitants | 1.8 | 1.3 | 2.9 | 5.9 | 5.3 | 7.2 |
| - Auvergne-Rhône-Alpes | 1.6 | 1.9 | 2.0 | 7.1 | 7.4 | 7.1 |
| * Lyon | 1.0 | 1.4 | 0.9 | 9.2 | 8.5 | 5.9 |
| - Hauts-de-France | 2.7 | 1.8 | 1.9 | 7.1 | 6.8 | 6.4 |
| - Provence-Alpes-Côte d'Azur | 1.2 | 0.9 | 1.8 | 3.8 | 3.3 | 4.7 |
| * Marseille | * | 1.8 | 1.8 | 6.1 | 4.8 | * |
| Houses | 2.7 | 1.5 | 1.7 | 6.5 | 6.6 | 6.8 |
| Île-de-France | 2.5 | 2.0 | -0.2 | 6.8 | 7.3 | 5.1 |
| - Immediate suburbs | 3.1 | 1.3 | 0.3 | 8.3 | 7.4 | 5.8 |
| - Outer suburbs | 2.3 | 2.3 | -0.4 | 6.1 | 7.2 | 4.8 |
| Provincial France | 2.7 | 1.4 | 2.1 | 6.4 | 6.5 | 7.1 |
| - Auvergne-Rhône-Alpes | 3.2 | 2.0 | 0.8 | 6.7 | 6.7 | 6.7 |
| - Hauts-de-France | 2.5 | 0.4 | 1.1 | 7.1 | 5.4 | 4.7 |
| * Conurbation of Lille | 2.7 | -0.4 | 1.7 | 10.4 | 6.6 | 6.3 |
| - Provence-Alpes-Côte d'Azur | 2.2 | 1.1 | 2.9 | 4.2 | 4.9 | 7.5 |
- * The 2020Q2 and 2020Q3 indices for Marseille (or the variations calculated from these indices) are not published because cover rates of notaries data are too low.
- 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 rose again at the end of March 2021
In Q2 2021, the annual number of transactions continued to increase: in June, the number was 1,155,000, after 1,080,000 in March. This is the third quarterly increase in a row, following a decrease between late 2019 and the third quarter of 2020. Compared to the stock of available dwellings which increases by around 1% a year, since 2019 the proportion of transactions has been larger than the high level observed in the early 2000s.
tableauVolume 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 | 803 |
| 2002-Q4 | 811 |
| 2003-Q1 | 798 |
| 2003-Q2 | 794 |
| 2003-Q3 | 806 |
| 2003-Q4 | 814 |
| 2004-Q1 | 824 |
| 2004-Q2 | 836 |
| 2004-Q3 | 827 |
| 2004-Q4 | 823 |
| 2005-Q1 | 826 |
| 2005-Q2 | 816 |
| 2005-Q3 | 821 |
| 2005-Q4 | 829 |
| 2006-Q1 | 834 |
| 2006-Q2 | 836 |
| 2006-Q3 | 832 |
| 2006-Q4 | 821 |
| 2007-Q1 | 813 |
| 2007-Q2 | 822 |
| 2007-Q3 | 821 |
| 2007-Q4 | 810 |
| 2008-Q1 | 796 |
| 2008-Q2 | 758 |
| 2008-Q3 | 717 |
| 2008-Q4 | 674 |
| 2009-Q1 | 610 |
| 2009-Q2 | 578 |
| 2009-Q3 | 568 |
| 2009-Q4 | 595 |
| 2010-Q1 | 656 |
| 2010-Q2 | 699 |
| 2010-Q3 | 737 |
| 2010-Q4 | 776 |
| 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 | 675 |
| 2013-Q3 | 687 |
| 2013-Q4 | 716 |
| 2014-Q1 | 733 |
| 2014-Q2 | 733 |
| 2014-Q3 | 722 |
| 2014-Q4 | 689 |
| 2015-Q1 | 691 |
| 2015-Q2 | 710 |
| 2015-Q3 | 750 |
| 2015-Q4 | 795 |
| 2016-Q1 | 807 |
| 2016-Q2 | 818 |
| 2016-Q3 | 824 |
| 2016-Q4 | 844 |
| 2017-Q1 | 876 |
| 2017-Q2 | 917 |
| 2017-Q3 | 949 |
| 2017-Q4 | 963 |
| 2018-Q1 | 960 |
| 2018-Q2 | 954 |
| 2018-Q3 | 958 |
| 2018-Q4 | 967 |
| 2019-Q1 | 984 |
| 2019-Q2 | 1016 |
| 2019-Q3 | 1043 |
| 2019-Q4 | 1067 |
| 2020-Q1 | 1038 |
| 2020-Q2 | 1007 |
| 2020-Q3 | 988 |
| 2020-Q4 | 1024 |
| 2021-Q1 | 1080 |
| 2021-Q2 | 1155 |
graphiqueVolume 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 may be revised in order to include observations recorded after the previous publication.
In comparison with the results released on 27May 2021, the q-o-q change in prices in Q1 2021 in France (excluding Mayotte) was slightly revised: the definitive estimate is +1.2%, while the estimate published on 27 May 2021 was +1.4%.
For further information
The calculation of indices 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 indices may be found in « Les indices Notaires-Insee de prix des logements anciens », Insee Méthodes n° 132 released in June 2019 (in French only).
Next issue: 23 November 2021, 8:45 AM.
Pour en savoir plus
The calculation of indices 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 indices may be found in « Les indices Notaires-Insee de prix des logements anciens », Insee Méthodes n° 132 released in June 2019 (in French only).
Next issue: 23 November 2021, 8:45 AM.