Insee
Informations Rapides · 23 February 2023 · n° 49
Informations rapidesIn Q4 2022, prices of second-hand dwellings decelerated significantly Notaries-INSEE second-hand dwellings price index - fourth quarter 2022

In Q4 2022, the prices of second-hand dwellings in France (excluding Mayotte) slowed down significantly: they increased by 0.2% compared to Q3 2022 (provisional seasonally adjusted results), after +1.5% in Q3 2022 and +1.4% in Q2 2022.

Over a year, prices also slowed down slightly in Q4 2022: they increased by 4.8%, after +6.4% in Q3 and +6.8% in Q2. The increase remained larger for houses (+5.8% over the year in Q4 2022) than for flats (+3.5%), and that since Q4 2020.

Informations rapides
No 49
Paru le :Paru le23/02/2023

In Q4 2022, the prices of second-hand dwellings in France (excluding Mayotte) slowed down significantly: they increased by 0.2% compared to Q3 2022 (provisional seasonally adjusted results), after +1.5% in Q3 2022 and +1.4% in Q2 2022.

Over a year, prices also slowed down slightly in Q4 2022: they increased by 4.8%, after +6.4% in Q3 and +6.8% in Q2. The increase remained larger for houses (+5.8% over the year in Q4 2022) than for flats (+3.5%), and that since Q4 2020.

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
2022-Q4 3.5 4.8 5.8
2022-Q3 4.1 6.4 8.1
2022-Q2 4.5 6.8 8.5
2022-Q1 4.7 7.3 9.1
2021-Q4 4.6 7.1 9.0
2021-Q3 5.3 7.5 9.0
2021-Q2 4.9 6.3 7.3
2021-Q1 5.1 6.0 6.6
2020-Q4 6.4 6.4 6.5
2020-Q3 6.6 5.2 4.3
2020-Q2 7.0 5.6 4.7
2020-Q1 6.4 4.9 3.9
2019-Q4 5.3 3.7 2.6
2019-Q3 4.0 3.2 2.5
2019-Q2 4.3 3.1 2.3
2019-Q1 3.8 3.0 2.5
2018-Q4 3.4 3.2 3.1
2018-Q3 3.4 2.9 2.6
2018-Q2 3.3 2.8 2.5
2018-Q1 3.8 2.9 2.3
2017-Q4 4.3 3.3 2.5
2017-Q3 4.5 3.2 2.4
2017-Q2 3.7 3.1 2.6
2017-Q1 3.0 2.5 2.1
2016-Q4 1.6 1.5 1.4
2016-Q3 1.0 1.3 1.5
2016-Q2 0.5 0.6 0.7
2016-Q1 -0.4 0.3 0.9
2015-Q4 -1.1 -0.4 0.2
2015-Q3 -2.0 -1.8 -1.6
2015-Q2 -3.0 -2.6 -2.4
2015-Q1 -2.8 -2.4 -2.1
2014-Q4 -2.4 -2.5 -2.6
2014-Q3 -2.0 -1.4 -1.0
2014-Q2 -1.3 -1.4 -1.4
2014-Q1 -1.4 -1.9 -2.2
2013-Q4 -1.8 -1.9 -2.0
2013-Q3 -1.7 -2.3 -2.8
2013-Q2 -1.9 -2.2 -2.5
2013-Q1 -1.5 -2.0 -2.4
2012-Q4 -1.4 -2.1 -2.6
2012-Q3 -0.8 -1.7 -2.3
2012-Q2 1.0 -0.3 -1.2
2012-Q1 3.8 1.8 0.4
2011-Q4 6.2 3.7 1.8
2011-Q3 8.8 6.2 4.2
2011-Q2 10.0 7.1 4.9
2011-Q1 9.5 7.1 5.3

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

  • Scope: France (excluding Mayotte).
  • Sources: INSEE, French notaries - ADSN Group, Grand Paris notaries - PNS.

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
2022 Q2 (d) 2022 Q3 (d) 2022 Q4 (p) 2022 Q2 (d) 2022 Q3 (d) 2022 Q4 (p)
France 1.4 1.5 0.2 6.8 6.4 4.8
Flats 1.2 1.0 0.2 4.5 4.1 3.5
Houses 1.5 1.9 0.2 8.5 8.1 5.8
  • (p): provisional; (d): definitive.
  • Scope: France (excluding Mayotte).
  • Sources: INSEE, ADSN – BIEN – Grand Paris notaries, French notaries, Perval society.

In Paris and the Île-de-France region, apartment prices went down

In Q4 2022, prices of second-hand dwellings in Île-de-France decreased: -0.4% over a quarter, after +0.5% in Q3 and Q2.

Despite this decline, prices remained up year-over-year: +1.4% in Q4 2022, after +1.9% in Q3 and +2.4% in Q2. The increase is much stronger for francilian houses (+3.3% over a year, after +5.5% in Q3 2022 and +5.8% in Q2) than for francilian flats (+0.5% over a year, after +0.2% and +0.8%).

In Paris, flats prices fell by 0.7% in Q4 2022, after having been virtually stable in the previous two quarters (-0.1% in Q3 and +0.1% Q2). Over a year, prices of Parisian flats also decreased (-1.0%).

In provincial France, the rise in prices of second-hand dwellings were significantly lower

In Q4 2022, prices of second-hand dwellings in provincial France went up by 0.4% over a quarter, after +1.8% in Q3 and +1.7% in Q2.

Over a year, despite a slight deceleration, prices evolved still dynamically: they increased by 6.0% in Q4 2022, after +8.1% and +8.6% in the previous quarters. Since the beginning of 2021, the prices of provincial houses (+6.2% over a year in Q4 2022) have risen stronger than those of flats (+5.8%), whereas the opposite was the case in 2019 and 2020.

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
2022-Q4 135.6 136.7 128.6 126.8
2022-Q3 134.6 136.3 129.3 127.3
2022-Q2 132.4 133.8 129.1 125.6
2022-Q1 130.1 131.6 128.7 124.5
2021-Q4 128.2 128.7 127.6 122.6
2021-Q3 125.6 125.5 128.9 120.7
2021-Q2 123.2 122.7 128.0 118.6
2021-Q1 120.6 119.8 127.4 117.7
2020-Q4 118.6 117.7 127.5 115.3
2020-Q3 116.6 114.6 125.9 112.6
2020-Q2 115.2 114.0 125.2 111.9
2020-Q1 113.4 112.5 123.1 109.8
2019-Q4 111.2 110.7 120.4 108.1
2019-Q3 109.4 110.0 118.3 107.9
2019-Q2 108.1 108.9 116.7 106.8
2019-Q1 107.0 108.0 115.2 106.4
2018-Q4 106.0 107.5 113.7 107.2
2018-Q3 105.8 106.9 112.7 106.2
2018-Q2 104.2 106.1 111.1 105.8
2018-Q1 104.1 105.4 109.8 105.0
2017-Q4 103.3 104.2 108.8 104.4
2017-Q3 103.1 104.0 108.0 103.8
2017-Q2 102.3 103.3 106.1 103.1
2017-Q1 101.6 103.0 104.5 102.5
2016-Q4 100.2 101.7 103.0 101.6
2016-Q3 99.6 101.6 102.2 101.3
2016-Q2 99.5 100.6 101.4 100.9
2016-Q1 99.6 100.9 100.4 100.5
2015-Q4 99.8 100.4 100.1 99.9
2015-Q3 99.9 100.0 99.9 100.0
2015-Q2 99.9 99.9 99.8 99.7
2015-Q1 100.6 100.0 100.3 100.0
2014-Q4 100.9 100.2 101.2 100.3
2014-Q3 102.2 101.7 101.5 101.6
2014-Q2 103.2 102.4 102.6 101.6
2014-Q1 103.6 102.2 103.0 102.2
2013-Q4 104.0 102.8 102.9 103.3
2013-Q3 104.1 102.7 103.5 103.4
2013-Q2 104.3 103.6 104.2 104.5
2013-Q1 105.0 104.4 104.6 104.9
2012-Q4 105.8 104.9 104.7 105.2
2012-Q3 106.1 105.9 105.2 105.0
2012-Q2 107.2 106.5 105.2 106.2
2012-Q1 107.8 107.1 105.1 106.9
2011-Q4 108.0 107.7 105.5 107.1
2011-Q3 108.0 108.4 105.0 107.0
2011-Q2 107.2 108.1 103.4 105.7
2011-Q1 106.1 107.2 99.2 103.8
2010-Q4 105.4 106.4 95.6 102.0
2010-Q3 103.9 104.7 92.0 100.0
2010-Q2 102.4 103.6 89.4 98.8
2010-Q1 101.0 102.4 86.8 97.2
2009-Q4 99.3 100.9 84.1 93.8
2009-Q3 98.3 99.9 82.7 93.2
2009-Q2 98.0 100.0 82.3 92.8
2009-Q1 99.5 101.9 84.7 95.8
2008-Q4 102.3 105.2 87.6 101.0
2008-Q3 104.8 108.9 89.0 104.4
2008-Q2 106.4 110.3 89.2 105.9
2008-Q1 106.7 111.3 88.4 105.9
2007-Q4 106.3 110.9 87.6 106.3
2007-Q3 104.8 109.6 85.4 105.0
2007-Q2 103.6 108.6 84.0 104.5
2007-Q1 102.7 107.2 82.6 103.5
2006-Q4 101.9 105.9 81.0 100.7
2006-Q3 100.0 103.8 79.5 99.5
2006-Q2 97.6 101.9 78.0 97.5
2006-Q1 95.3 99.5 75.8 95.0
2005-Q4 92.1 96.8 73.5 91.8
2005-Q3 89.0 94.3 71.5 88.4
2005-Q2 86.1 91.2 68.6 85.4
2005-Q1 82.5 88.4 66.2 82.1
2004-Q4 79.5 85.3 63.8 79.4
2004-Q3 76.2 82.2 61.4 77.0
2004-Q2 73.0 79.5 59.4 74.1
2004-Q1 70.3 77.1 57.2 72.0
2003-Q4 66.6 74.6 55.1 69.7
2003-Q3 64.4 72.3 53.3 66.8
2003-Q2 62.0 70.4 51.9 65.0
2003-Q1 59.7 68.5 50.3 63.5
2002-Q4 58.0 67.0 48.8 62.2
2002-Q3 56.2 65.2 47.4 61.4
2002-Q2 54.3 63.4 46.1 60.1
2002-Q1 52.8 62.0 44.8 58.8
2001-Q4 51.8 60.7 44.2 58.5
2001-Q3 50.5 59.6 43.5 58.0
2001-Q2 50.0 58.6 42.5 57.5
2001-Q1 48.9 57.3 41.9 55.8
2000-Q4 47.8 56.1 40.9 54.8
2000-Q3 47.3 55.2 40.3 54.1
2000-Q2 46.4 54.0 39.4 52.9
2000-Q1 45.7 53.1 38.4 52.2

Second-hand dwellings price index in metropolitan France

  • Scope: Metropolitan France.
  • Sources: INSEE, French notaries - ADSN Group, Grand Paris notaries - PNS.

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
2022 Q2 (d) 2022 Q3 (d) 2022 Q4 (p) 2022 Q2 (d) 2022 Q3 (d) 2022 Q4 (p)
Metropolitan France 1.4 1.5 0.2 6.8 6.4 4.8
Île-de-France 0.5 0.5 -0.4 2.4 1.9 1.4
Provincial France 1.7 1.8 0.4 8.6 8.1 6.0
- Auvergne-Rhône-Alpes 1.4 2.0 0.2 7.9 7.1 5.4
- Hauts-de-France 1.6 0.9 -0.3 6.5 5.4 4.1
- Provence-Alpes-Côte d'Azur 2.1 2.8 0.6 8.2 9.4 7.5
Flats 1.2 1.0 0.2 4.5 4.1 3.5
Île-de-France 0.3 0.1 -0.5 0.8 0.2 0.5
- Paris 0.1 -0.1 -0.7 -0.7 -1.2 -1.0
- Immediate suburbs 0.4 0.4 -0.7 1.3 0.8 1.1
- Outer suburbs 0.8 0.1 0.3 4.1 2.8 3.9
Provincial France 1.8 1.6 0.8 7.5 7.2 5.8
- Conurbation > 10 000 inhabitants 1.8 1.6 0.7 7.3 6.9 5.5
Central town 1.7 1.7 0.6 7.3 7.0 5.3
Suburb 1.9 1.4 0.9 7.4 7.0 6.0
- Conurbation < 10 000 inhabitants 2.0 2.0 1.2 9.5 9.2 7.8
- Auvergne-Rhône-Alpes 1.2 0.8 1.0 6.1 5.7 5.0
Lyon 0.0 1.4 -1.6 0.1 1.5 -0.6
- Hauts-de-France 3.5 1.1 -1.0 7.4 5.9 4.1
- Provence-Alpes-Côte d'Azur 2.2 2.6 0.6 7.4 8.2 6.8
Marseille 2.4 2.3 0.1 9.9 10.9 8.0
Houses 1.5 1.8 0.2 8.6 8.1 5.8
Île-de-France 0.8 1.4 -0.3 5.8 5.5 3.3
- Immediate suburbs 1.0 1.5 -1.6 4.8 5.1 1.4
- Outer suburbs 0.8 1.3 0.3 6.2 5.7 4.2
Provincial France 1.7 1.9 0.3 9.1 8.6 6.2
- Auvergne-Rhône-Alpes 1.5 3.0 -0.5 9.5 8.4 5.7
- Hauts-de-France 1.2 0.8 -0.2 6.4 5.3 4.2
Conurbation of Lille 0.0 0.6 0.1 6.0 4.8 4.7
- Provence-Alpes-Côte d'Azur 1.9 3.1 0.5 9.0 10.6 8.2
  • 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 decreased slightly at the end of December 2022

In Q4 2022, the annual volume of transactions kept decreasing slightly: at the end of December 2022, the annual number of transactions over the last twelve months was estimated at 1,109,000, after 1,131,000 at the end of September 2022.

Compared to the stock of dwellings which increases by around 1% a year, the proportion of transactions concerned 2.9% of the stock and has been larger since 2019 than the high level observed in the early 2000s (around 2.6%), despite the decline of the number of transactions since Q4 2021.

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
2022-Q4 1109
2022-Q3 1131
2022-Q2 1154
2022-Q1 1172
2021-Q4 1172
2021-Q3 1199
2021-Q2 1151
2021-Q1 1078
2020-Q4 1025
2020-Q3 993
2020-Q2 1015
2020-Q1 1048
2019-Q4 1078
2019-Q3 1053
2019-Q2 1026
2019-Q1 992
2018-Q4 975
2018-Q3 964
2018-Q2 959
2018-Q1 962
2017-Q4 964
2017-Q3 950
2017-Q2 917
2017-Q1 876
2016-Q4 843
2016-Q3 824
2016-Q2 817
2016-Q1 807
2015-Q4 795
2015-Q3 750
2015-Q2 710
2015-Q1 691
2014-Q4 689
2014-Q3 722
2014-Q2 733
2014-Q1 733
2013-Q4 716
2013-Q3 687
2013-Q2 675
2013-Q1 661
2012-Q4 708
2012-Q3 734
2012-Q2 781
2012-Q1 816
2011-Q4 801
2011-Q3 821
2011-Q2 807
2011-Q1 796
2010-Q4 776
2010-Q3 737
2010-Q2 699
2010-Q1 656
2009-Q4 595
2009-Q3 568
2009-Q2 578
2009-Q1 610
2008-Q4 674
2008-Q3 717
2008-Q2 758
2008-Q1 796
2007-Q4 810
2007-Q3 821
2007-Q2 822
2007-Q1 813
2006-Q4 821
2006-Q3 832
2006-Q2 836
2006-Q1 834
2005-Q4 829
2005-Q3 821
2005-Q2 816
2005-Q1 826
2004-Q4 823
2004-Q3 827
2004-Q2 836
2004-Q1 824
2003-Q4 814
2003-Q3 806
2003-Q2 794
2003-Q1 798
2002-Q4 811
2002-Q3 803
2002-Q2 799
2002-Q1 793
2001-Q4 784
2001-Q3 790
2001-Q2 789
2001-Q1 785
2000-Q4 793
2000-Q3 780
2000-Q2 768
2000-Q1 755
  • Warning: The recent increase in notary data cover rates may have an impact on the adjustments historically implemented to take into account the heterogeneity of coverage deficits in the calculation of the volume of transactions. Pending more time to better know these impacts, the uncertainty on the estimate of the volume from Q3 2021 onwards may be slightly increased.

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

  • Warning: The recent increase in notary data cover rates may have an impact on the adjustments historically implemented to take into account the heterogeneity of coverage deficits in the calculation of the volume of transactions. Pending more time to better know these impacts, the uncertainty on the estimate of the volume from Q3 2021 onwards may be slightly increased.
  • Scope: France (excluding Mayotte).
  • Sources: IGEDD, 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 24 November 2022, the quarterly change in prices of second-hand dwellings in France (excluding Mayotte) for Q3 2022 has not been revised (after rounding): it stands at +1.5%.

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: 31 May 2023 at 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: 31 May 2023 at 8:45 am.

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