Informations Rapides ·
7 September 2023 · n° 227In Q2 2023, prices of second-hand dwellings fell by 0.8% Notaries-INSEE second-hand dwellings price index - second quarter 2023
In Q2 2023, prices of second-hand dwellings in France (excluding Mayotte) fell again over a quarter, and more sharply: ‑0.8% compared to Q1 2023 (provisional seasonally adjusted results), after ‑0.3% in Q1 2023 and +0.2% in Q4 2022.
Over a year, prices decelerated significantly: +0.5% in Q2 2023, after +2.7% in Q1 2023 and +4.6% in Q4 2022. House prices continued to rise (+0.9% over a year in Q2 2023) as flat prices were stable.
In Q2 2023, prices of second-hand dwellings in France (excluding Mayotte) fell again over a quarter, and more sharply: ‑0.8% compared to Q1 2023 (provisional seasonally adjusted results), after ‑0.3% in Q1 2023 and +0.2% in Q4 2022.
Over a year, prices decelerated significantly: +0.5% in Q2 2023, after +2.7% in Q1 2023 and +4.6% in Q4 2022. House prices continued to rise (+0.9% over a year in Q2 2023) as flat prices were stable.
tableauVariation in prices of second-hand dwellings in France over a year
France - flats | France | France - houses | |
---|---|---|---|
2023-Q2 | 0.0 | 0.5 | 0.9 |
2023-Q1 | 2.1 | 2.7 | 3.0 |
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
tableauVariation in prices of second-hand dwellings in France
change in | ||||||
---|---|---|---|---|---|---|
3 months (S.A.) | 12 months | |||||
2022 Q4 (d) | 2023 Q1 (d) | 2023 Q2 (p) | 2022 Q4 (d) | 2023 Q1 (d) | 2023 Q2 (p) | |
France | 0.2 | -0.3 | -0.8 | 4.6 | 2.7 | 0.5 |
Flats | 0.3 | -0.1 | -1.0 | 3.4 | 2.1 | 0.0 |
Houses | 0.2 | -0.4 | -0.6 | 5.5 | 3.0 | 0.9 |
- (p): provisional; (d): definitive.
- Scope: France (excluding Mayotte).
- Sources: INSEE, ADSN – BIEN – Grand Paris notaries, French notaries, Perval society.
In Île-de-France, prices of flats and houses continued to fall
The prices of second-hand dwellings in Île-de-France fell for the third quarter in a row: -2.0% over a quarter in Q2 2023, after -1.3% in Q1 2023 and ‑0.2% in Q4 2022. They fell by 2.2% for flats and by 1.7% for houses. In Paris, flat prices continued to fall for the fourth quarter in a raw: -2.4% in Q2 2023, after -1.3% and -0.5% in the previous two quarters.
Over a year, prices of second-hand dwellings in Île-de-France fell sharply: -3.1% in Q2 2023, after ‑0.6% in Q1 2023 and +1.3% in Q4 2022. This decline was driven by the drop in the prices of flats (-3.7% over a year in Q2 2023 after -1.3%), but also by the unprecedented decline in house prices (‑1.9% after +0.7%), down year-on-year for the first time since Q1 2016. The drop in flat prices over a year was more marked for Paris (‑4.4%) than for immediate suburbs (‑3.8%) and for outer suburbs (‑1.7%).
In Provincial France, the prices of second-hand dwellings fell back
In Q2 2023, prices of second-hand dwellings in provincial France fell over a quarter for the first time since Q3 2016: ‑0.4% in Q2 2023, after +0.2% in Q1 2023 and +0.3% in Q4 2022.
Over a year, prices decelerated but remained up: +1.8% in Q2 2023, after +3.9% and +5.8%. Prices of flats in provincial France (+2.7% over a year in Q2 2023) increased more strongly than those of houses (+1.3%) for the second quarter in a raw.
tableauSecond-hand dwellings price index in metropolitan France
Province - flats | Province - houses | Île-de-France - flats | Île-de-France - houses | |
---|---|---|---|---|
2023-Q2 | 136.1 | 135.6 | 124.3 | 123.3 |
2023-Q1 | 136.3 | 136.2 | 127.1 | 125.4 |
2022-Q4 | 135.3 | 136.4 | 128.7 | 127.2 |
2022-Q3 | 134.4 | 136.1 | 129.1 | 127.1 |
2022-Q2 | 132.4 | 133.8 | 129.0 | 125.5 |
2022-Q1 | 130.1 | 131.6 | 128.7 | 124.5 |
2021-Q4 | 128.2 | 128.8 | 127.7 | 122.8 |
2021-Q3 | 125.4 | 125.4 | 128.6 | 120.6 |
2021-Q2 | 123.2 | 122.7 | 127.9 | 118.7 |
2021-Q1 | 120.6 | 119.8 | 127.4 | 117.5 |
2020-Q4 | 118.6 | 117.7 | 127.6 | 115.5 |
2020-Q3 | 116.5 | 114.5 | 125.7 | 112.5 |
2020-Q2 | 115.2 | 114.1 | 125.2 | 111.9 |
2020-Q1 | 113.5 | 112.5 | 123.0 | 109.6 |
2019-Q4 | 111.2 | 110.7 | 120.5 | 108.2 |
2019-Q3 | 109.4 | 109.9 | 118.2 | 107.9 |
2019-Q2 | 108.1 | 108.9 | 116.7 | 106.8 |
2019-Q1 | 107.0 | 108.0 | 115.2 | 106.3 |
2018-Q4 | 106.0 | 107.5 | 113.7 | 107.3 |
2018-Q3 | 105.8 | 106.9 | 112.6 | 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
tableauVariation in prices of second-hand dwellings in metropolitan France
Change in | ||||||
---|---|---|---|---|---|---|
3 months (S.A.) | 12 months | |||||
2022 Q4 (d) | 2023 Q1 (d) | 2023 Q2 (p) | 2022 Q4 (d) | 2023 Q1 (d) | 2023 Q2 (p) | |
Metropolitan France | 0.2 | -0.2 | -0.8 | 4.6 | 2.7 | 0.5 |
Île-de-France | -0.2 | -1.3 | -2.0 | 1.3 | -0.6 | -3.1 |
Provincial France | 0.3 | 0.2 | -0.4 | 5.8 | 3.9 | 1.8 |
- Auvergne-Rhône-Alpes | 0.1 | -0.2 | -0.7 | 5.1 | 3.1 | 0.9 |
- Hauts-de-France | -0.3 | -1.0 | -0.7 | 3.7 | 0.9 | -1.0 |
- Provence-Alpes-Côte d'Azur | 0.6 | 0.4 | 0.7 | 7.4 | 5.8 | 4.5 |
Flats | 0.3 | -0.1 | -1.0 | 3.3 | 2.1 | 0.0 |
Île-de-France | -0.3 | -1.2 | -2.2 | 0.5 | -1.3 | -3.7 |
- Paris | -0.5 | -1.3 | -2.4 | -1.0 | -2.0 | -4.4 |
- Immediate suburbs | -0.3 | -1.6 | -2.1 | 1.0 | -1.4 | -3.8 |
- Outer suburbs | 0.2 | -0.4 | -1.7 | 3.6 | 0.9 | -1.7 |
Provincial France | 0.7 | 0.7 | -0.2 | 5.5 | 4.7 | 2.7 |
- Conurbation > 10 000 inhabitants | 0.6 | 0.7 | -0.3 | 5.3 | 4.5 | 2.5 |
Central town | 0.6 | 0.6 | -0.5 | 5.1 | 4.3 | 2.1 |
Suburb | 0.8 | 0.8 | 0.0 | 5.7 | 4.8 | 3.0 |
- Conurbation < 10 000 inhabitants | 1.2 | 1.1 | 1.0 | 7.6 | 6.4 | 5.4 |
- Auvergne-Rhône-Alpes | 0.9 | 0.0 | -0.4 | 4.8 | 3.1 | 1.5 |
Lyon | -0.8 | -1.2 | -2.6 | -0.7 | -1.9 | -4.4 |
- Hauts-de-France | -1.1 | 2.0 | -2.5 | 3.6 | 4.6 | -0.5 |
- Provence-Alpes-Côte d'Azur | 0.7 | 1.2 | 1.4 | 6.6 | 6.3 | 5.7 |
Marseille | 0.6 | 1.6 | -0.5 | 7.8 | 6.6 | 3.7 |
Houses | 0.2 | -0.3 | -0.6 | 5.5 | 3.1 | 0.9 |
Île-de-France | 0.0 | -1.4 | -1.7 | 3.3 | 0.7 | -1.9 |
- Immediate suburbs | -1.0 | -0.6 | -1.8 | 1.3 | 0.4 | -2.2 |
- Outer suburbs | 0.6 | -1.8 | -1.6 | 4.3 | 0.9 | -1.7 |
Provincial France | 0.2 | -0.1 | -0.5 | 5.9 | 3.5 | 1.3 |
- Auvergne-Rhône-Alpes | -0.5 | -0.3 | -1.0 | 5.4 | 3.1 | 0.5 |
- Hauts-de-France | -0.1 | -1.6 | -0.3 | 3.8 | 0.2 | -1.1 |
Conurbation of Lille | 0.3 | -1.3 | -0.9 | 4.4 | 0.1 | -1.2 |
- Provence-Alpes-Côte d'Azur | 0.4 | -0.3 | 0.1 | 8.2 | 5.3 | 3.3 |
- 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 again at the end of June 2023
In Q2 2023, the annual volume of transactions continued to fall: at the end of June 2023, the annual number of transactions over the last twelve months was estimated at 1,002,000, after 1,071,000 at the end of March 2023. Compared to the stock of available dwellings which increases by around 1% a year, the proportion of transactions concerned 2.6% of the stock, which corresponded to the high level observed in the early 2000s, 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-Q2 | 1002 |
2023-Q1 | 1071 |
2022-Q4 | 1116 |
2022-Q3 | 1137 |
2022-Q2 | 1160 |
2022-Q1 | 1177 |
2021-Q4 | 1176 |
2021-Q3 | 1201 |
2021-Q2 | 1152 |
2021-Q1 | 1080 |
2020-Q4 | 1026 |
2020-Q3 | 994 |
2020-Q2 | 1016 |
2020-Q1 | 1048 |
2019-Q4 | 1078 |
2019-Q3 | 1054 |
2019-Q2 | 1026 |
2019-Q1 | 993 |
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
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 30 May 2023, the quarterly change in prices of second-hand dwellings in France (excluding Mayotte) in Q1 2023 has been revised downwards by 0.1 points (‑0.3% 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: 30 November 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: 30 November 2023 at 8:45 am.