Informations Rapides ·
30 May 2023 · n° 134
In Q1 2023, prices of second-hand dwellings fell by 0.2% Notaries-INSEE second-hand dwellings price index - first quarter 2023
In Q1 2023, prices of second-hand dwellings in France (excluding Mayotte) fell for the first time since Q2 2015: -0.2% compared to Q4 2022 (provisional seasonally adjusted results), after a stability in Q4 2022 and +1.5% in Q3 2022.
Over a year, prices decelerated sharply: +2.7% in Q1 2023, after +4.6% in Q4 2022 and +6.4% in Q3. The increase has been remaining a bit larger for houses (+3.1% over the year in Q1 2023) than for flats (+2.2%), and that since Q4 2020.
In Q1 2023, prices of second-hand dwellings in France (excluding Mayotte) fell for the first time since Q2 2015: -0.2% compared to Q4 2022 (provisional seasonally adjusted results), after a stability in Q4 2022 and +1.5% in Q3 2022.
Over a year, prices decelerated sharply: +2.7% in Q1 2023, after +4.6% in Q4 2022 and +6.4% in Q3. The increase has been remaining a bit larger for houses (+3.1% over the year in Q1 2023) than for flats (+2.2%), and that since Q4 2020.
tableauVariation in prices of second-hand dwellings in France over a year
France - flats | France | France - houses | |
---|---|---|---|
2023-Q1 | 2.2 | 2.7 | 3.1 |
2022-Q4 | 3.4 | 4.6 | 5.5 |
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 |
graphiqueVariation 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.
tableauVariation in prices of second-hand dwellings in France
change in | ||||||
---|---|---|---|---|---|---|
3 months (S.A.) | 12 months | |||||
2022 Q3 (d) | 2022 Q4 (d) | 2023 Q1 (p) | 2022 Q3 (d) | 2022 Q4 (d) | 2023 Q1 (p) | |
France | 1.5 | 0.0 | -0.2 | 6.4 | 4.6 | 2.7 |
Flats | 1.0 | 0.1 | -0.1 | 4.1 | 3.4 | 2.2 |
Houses | 1.9 | -0.1 | -0.3 | 8.1 | 5.5 | 3.1 |
- (p): provisional; (d): definitive.
- Scope: France (excluding Mayotte).
- Sources: INSEE, ADSN – BIEN – Grand Paris notaries, French notaries, Perval society.
In Paris and Île-de-France, prices of flats continued to fall
In Q1 2023, prices of second-hand dwellings in Île-de-France fell for the second quarter in a row: -1.1% over a quarter in Q1 2023, after -0.5% in Q4 2022 and +0.5% in Q3 2022.
Over a year, prices of second-hand dwellings in Île-de-France also fell: -0.6% in Q1 2023, after +1.3% in Q4 2022 and +1.9% in Q3 2022. This decline was driven by the drop in the prices of flats (-1.2% over a year, after +0.5% in Q4 2022 and +0.2% in Q3), while house prices remained up (+0.9% over a year, after +3.3% and +5.5%).
In Paris, flat prices fell over a quarter for the third quarter in a row: -1.2% in Q1 2023, after -0.7% in Q4 2022 and -0.1% in Q3. Over a year, prices of Parisian flats decreased by 2.0% in Q1 2023.
In Provincial France, the prices of second-hand dwellings were almost unchanged
In Q1 2023, prices of second-hand dwellings in provincial France were virtually stable, +0.1% over a quarter, after +0.2% in Q4 2022 and +1.8% in Q3.
Over a year, prices evolved still dynamically despite a continuing deceleration: +3.9% in Q1 2023, after +5.8% and +8.1%. Flat prices in provincial France (+4.7% over a year in Q1 2023) rose stronger than those of houses (+3.5%), reversing the trend observed since the beginning of 2021.
tableauSecond-hand dwellings price index in metropolitan France
Province - flats | Province - houses | Île-de-France - flats | Île-de-France - houses | |
---|---|---|---|---|
2023-Q1 | 136.2 | 136.2 | 127.1 | 125.5 |
2022-Q4 | 135.3 | 136.3 | 128.5 | 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 |
graphiqueSecond-hand dwellings price index in metropolitan France

- Scope: Metropolitan France.
- Sources: INSEE, French notaries - ADSN Group, Grand Paris notaries - PNS.
tableauVariation in prices of second-hand dwellings in metropolitan France
Change in | ||||||
---|---|---|---|---|---|---|
3 months (S.A.) | 12 months | |||||
2022 Q3 (d) | 2022 Q4 (d) | 2023 Q1 (p) | 2022 Q3 (d) | 2022 Q4 (d) | 2023 Q1 (p) | |
Metropolitan France | 1.5 | 0.0 | -0.2 | 6.4 | 4.6 | 2.7 |
Île-de-France | 0.5 | -0.5 | -1.1 | 1.9 | 1.3 | -0.6 |
Provincial France | 1.8 | 0.2 | 0.1 | 8.1 | 5.8 | 3.9 |
- Auvergne-Rhône-Alpes | 2.0 | -0.1 | -0.2 | 7.1 | 5.1 | 3.1 |
- Hauts-de-France | 0.9 | -0.7 | -0.8 | 5.4 | 3.7 | 0.9 |
- Provence-Alpes-Côte d'Azur | 2.8 | 0.5 | 0.3 | 9.4 | 7.4 | 5.8 |
Flats | 1.0 | 0.1 | -0.1 | 4.1 | 3.3 | 2.1 |
Île-de-France | 0.1 | -0.6 | -1.1 | 0.2 | 0.5 | -1.2 |
- Paris | -0.1 | -0.7 | -1.2 | -1.2 | -1.0 | -2.0 |
- Immediate suburbs | 0.4 | -0.8 | -1.4 | 0.8 | 1.0 | -1.4 |
- Outer suburbs | 0.1 | 0.1 | 0.0 | 2.8 | 3.6 | 1.0 |
Provincial France | 1.6 | 0.6 | 0.6 | 7.2 | 5.5 | 4.7 |
- Conurbation > 10 000 inhabitants | 1.6 | 0.5 | 0.6 | 6.9 | 5.3 | 4.5 |
Central town | 1.7 | 0.4 | 0.5 | 7.0 | 5.1 | 4.3 |
Suburb | 1.4 | 0.7 | 0.8 | 7.0 | 5.7 | 4.8 |
- Conurbation < 10 000 inhabitants | 2.0 | 1.0 | 1.1 | 9.2 | 7.6 | 6.4 |
- Auvergne-Rhône-Alpes | 0.8 | 0.8 | 0.3 | 5.7 | 4.8 | 3.2 |
Lyon | 1.4 | -1.7 | -1.6 | 1.5 | -0.7 | -1.9 |
- Hauts-de-France | 1.1 | -1.5 | 1.4 | 5.9 | 3.6 | 4.5 |
- Provence-Alpes-Côte d'Azur | 2.6 | 0.5 | 0.9 | 8.2 | 6.6 | 6.3 |
Marseille | 2.3 | -0.1 | 1.9 | 10.9 | 7.8 | 6.6 |
Houses | 1.8 | -0.1 | -0.2 | 8.1 | 5.5 | 3.1 |
Île-de-France | 1.4 | -0.3 | -1.0 | 5.5 | 3.3 | 0.9 |
- Immediate suburbs | 1.5 | -1.6 | -0.3 | 5.1 | 1.3 | 0.6 |
- Outer suburbs | 1.3 | 0.3 | -1.4 | 5.7 | 4.3 | 1.0 |
Provincial France | 1.9 | 0.0 | -0.1 | 8.6 | 5.9 | 3.5 |
- Auvergne-Rhône-Alpes | 3.0 | -0.8 | -0.5 | 8.4 | 5.4 | 3.1 |
- Hauts-de-France | 0.8 | -0.6 | -1.2 | 5.3 | 3.8 | 0.2 |
Conurbation of Lille | 0.6 | -0.2 | -0.5 | 4.8 | 4.4 | -0.2 |
- Provence-Alpes-Côte d'Azur | 3.1 | 0.5 | -0.3 | 10.6 | 8.2 | 5.3 |
- 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 March 2023
In Q1 2023, the annual volume of transactions kept decreasing slightly: at the end of March 2023, the annual number of transactions over the last twelve months was estimated at 1,069,000, after 1,115,000 at the end of December 2022. Compared to the stock of available dwellings which increases by around 1% a year, the proportion of transactions concerned 2.8% 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.
tableauVolume of transactions of second-hand dwellings over the last 12 months
Volume of transactions of second-hand dwellings over the last 12 months | |
---|---|
2023-Q1 | 1069 |
2022-Q4 | 1115 |
2022-Q3 | 1137 |
2022-Q2 | 1159 |
2022-Q1 | 1176 |
2021-Q4 | 1174 |
2021-Q3 | 1200 |
2021-Q2 | 1150 |
2021-Q1 | 1078 |
2020-Q4 | 1024 |
2020-Q3 | 993 |
2020-Q2 | 1015 |
2020-Q1 | 1048 |
2019-Q4 | 1077 |
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 | 791 |
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.
graphiqueVolume 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 23 February 2023, the quarterly change in prices in Q4 2022 in France (excluding Mayotte) has been revised downwards by 0.2 points (0.0% instead of +0.2%).
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: 6 September 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: 6 September 2023 at 8:45 am.