Informations Rapides ·
29 September 2023 · n° 254
In Q2 2023, house prices fell by 0.7% House price index - second quarter 2023
In Q2 2023, the house prices of metropolitan France fell by 0.7% compared to the previous quarter (provisional seasonally-adjusted data), after a near stability in Q1 2023 (-0.1%). Prices of new dwellings fell back (-0.2% compared with the previous quarter, after +0.2%), while the fall in prices of second-hand dwellings intensified (-0.8%, after -0.2% in the previous quarter).
Year on year, house prices slowed down sharply (+0.7% in Q2 2023 after +2.9% in Q1 2023 and +4.8% in Q4 2022). For the fourth quarter in a row, prices of second-hand dwellings increased over the year more slowly (+0.5%) than those of new dwellings (+1.8%).
With effect from the publication of Q2 2023, and in accordance with European recommendations, the seasonally-adjusted price index for new and second-hand dwellings is calculated as the weighted average (by transaction values) of the Notaires-Insee seasonally-adjusted price index for second-hand dwellings and the seasonally-adjusted price index for new dwellings.
This change has no effect on historical data other than to slightly modify the series of the seasonally-adjusted price index for new and second-hand dwellings, without altering long-term trends.
House prices fell in Q2 2023
In Q2 2023, the house prices of metropolitan France fell by 0.7% compared to the previous quarter (provisional seasonally-adjusted data), after a near stability in Q1 2023 (-0.1%). Prices of new dwellings fell back (-0.2% compared with the previous quarter, after +0.2%), while the fall in prices of second-hand dwellings intensified (-0.8%, after -0.2% in the previous quarter).
Year on year, house prices slowed down sharply (+0.7% in Q2 2023 after +2.9% in Q1 2023 and +4.8% in Q4 2022). For the fourth quarter in a row, prices of second-hand dwellings increased over the year more slowly (+0.5%) than those of new dwellings (+1.8%).
tableauHouse price index (Base 100: 2015)
| Weights 2023 (%) | Index 2023 Q2 (SA data) (p) | Percentage change compared with the previous quarter (p) (SA data) | Percentage change compared with the same quarter of the previous year (p) | |
|---|---|---|---|---|
| All dwellings | 100.0 | 132.4 | -0.7 | 0.7 |
| - new dwellings | 11.8 | 130.1 | -0.2 | 1.8 |
| - second-hand dwellings | 88.2 | 132.7 | -0.8 | 0.5 |
- (p) provisional data, (SA data) seasonally adjusted
- Scope: metropolitan France.
- Sources: INSEE, SDES, French notaries – ADSN Group, Grand Paris notaries – PNS
tableauNew and second-hand dwellings price index in metropolitan France
| New and second-hand dwellings | New dwellings | |
|---|---|---|
| 2023-Q2 | 132.4 | 130.1 |
| 2023-Q1 | 133.3 | 130.4 |
| 2022-Q4 | 133.5 | 130.1 |
| 2022-Q3 | 133.3 | 130.4 |
| 2022-Q2 | 131.5 | 127.8 |
| 2022-Q1 | 129.4 | 123.9 |
| 2021-Q4 | 127.5 | 123.8 |
| 2021-Q3 | 125.2 | 122.1 |
| 2021-Q2 | 123.1 | 120.2 |
| 2021-Q1 | 121.0 | 118.8 |
| 2020-Q4 | 119.3 | 117.1 |
| 2020-Q3 | 116.9 | 116.6 |
| 2020-Q2 | 116.0 | 114.5 |
| 2020-Q1 | 114.6 | 115.1 |
| 2019-Q4 | 112.7 | 114.1 |
| 2019-Q3 | 111.5 | 112.8 |
| 2019-Q2 | 110.3 | 111.9 |
| 2019-Q1 | 109.2 | 110.3 |
| 2018-Q4 | 108.5 | 109.4 |
| 2018-Q3 | 107.8 | 108.3 |
| 2018-Q2 | 106.8 | 108.0 |
| 2018-Q1 | 106.2 | 107.4 |
| 2017-Q4 | 105.3 | 106.9 |
| 2017-Q3 | 104.8 | 105.9 |
| 2017-Q2 | 103.9 | 105.4 |
| 2017-Q1 | 103.2 | 104.7 |
| 2016-Q4 | 101.8 | 103.1 |
| 2016-Q3 | 101.5 | 102.8 |
| 2016-Q2 | 100.6 | 101.1 |
| 2016-Q1 | 100.4 | 100.4 |
| 2015-Q4 | 100.2 | 100.3 |
| 2015-Q3 | 100.0 | 100.4 |
| 2015-Q2 | 99.9 | 100.0 |
| 2015-Q1 | 100.0 | 99.2 |
| 2014-Q4 | 100.3 | 98.8 |
| 2014-Q3 | 101.3 | 98.5 |
| 2014-Q2 | 101.9 | 97.7 |
| 2014-Q1 | 102.1 | 98.4 |
| 2013-Q4 | 102.5 | 98.6 |
| 2013-Q3 | 102.6 | 98.6 |
| 2013-Q2 | 103.1 | 97.7 |
| 2013-Q1 | 103.7 | 97.8 |
| 2012-Q4 | 104.1 | 97.5 |
| 2012-Q3 | 104.7 | 98.1 |
| 2012-Q2 | 105.4 | 99.1 |
| 2012-Q1 | 105.8 | 99.4 |
| 2011-Q4 | 106.1 | 100.0 |
| 2011-Q3 | 106.2 | 99.8 |
| 2011-Q2 | 105.4 | 98.8 |
| 2011-Q1 | 103.8 | 98.0 |
| 2010-Q4 | 102.0 | 96.5 |
| 2010-Q3 | 100.0 | 94.8 |
| 2010-Q2 | 98.6 | 94.0 |
| 2010-Q1 | 97.1 | 93.1 |
| 2009-Q4 | 95.6 | 93.0 |
| 2009-Q3 | 94.6 | 92.2 |
| 2009-Q2 | 94.4 | 91.6 |
| 2009-Q1 | 96.1 | 91.3 |
| 2008-Q4 | 98.7 | 91.1 |
| 2008-Q3 | 101.3 | 92.0 |
| 2008-Q2 | 102.4 | 92.8 |
| 2008-Q1 | 102.5 | 91.8 |
| 2007-Q4 | 102.0 | 91.3 |
| 2007-Q3 | 100.7 | 91.5 |
| 2007-Q2 | 99.5 | 89.8 |
| 2007-Q1 | 98.4 | 89.2 |
| 2006-Q4 | 97.3 | 88.1 |
| 2006-Q3 | 95.5 | 86.6 |
| 2006-Q2 | 93.6 | 85.4 |
| 2006-Q1 | 91.4 | 83.6 |
| 2005-Q4 | 88.9 | 82.3 |
| 2005-Q3 | 86.3 | 80.1 |
| 2005-Q2 | 83.4 | 77.8 |
| 2005-Q1 | 80.5 | 75.7 |
| 2004-Q4 | 77.6 | 73.1 |
| 2004-Q3 | 74.8 | 71.3 |
| 2004-Q2 | 72.2 | 69.5 |
| 2004-Q1 | 69.9 | 67.8 |
| 2003-Q4 | 67.3 | 66.2 |
| 2003-Q3 | 65.2 | 64.9 |
| 2003-Q2 | 63.4 | 63.4 |
| 2003-Q1 | 61.6 | 62.2 |
| 2002-Q4 | 60.0 | 60.8 |
| 2002-Q3 | 58.5 | 59.6 |
| 2002-Q2 | 57.0 | 58.8 |
| 2002-Q1 | 55.6 | 57.7 |
| 2001-Q4 | 54.8 | 56.8 |
| 2001-Q3 | 53.7 | 55.1 |
| 2001-Q2 | 52.9 | 54.6 |
| 2001-Q1 | 51.9 | 53.9 |
| 2000-Q4 | 50.9 | 53.6 |
| 2000-Q3 | 50.2 | 53.2 |
| 2000-Q2 | 49.2 | 52.4 |
| 2000-Q1 | 48.4 | 51.8 |
graphiqueNew and second-hand dwellings price index in metropolitan France
- Scope: metropolitan France.
- Source: Insee, SDES, Notaires de France – Groupe ADSN, Notaires du Grand Paris – PNS.
Revisions
In metropolitan France, the quarterly variation in prices of second-hand dwellings in Q1 2023 has not been revised (-0.2% after rounding), while new dwellings has been revised upwards by 0.4 points (+0.2% instead of -0.2%). All in all, the quarter-on-quarter variation of housing prices in Q1 2023 has been slightly revised upwards by 0.1 points (-0.1% instead of -0.2%).
For further information
Price index of second-hand dwellings published here is the Notaires-INSEE index.
Information about methodology is available in the Documentation tab of this publication.
A link to the historical data is available at the bottom of this publication.
Next issue: 22 December 2023 at 12:00 pm.
Pour en savoir plus
Price index of second-hand dwellings published here is the Notaires-INSEE index.
Information about methodology is available in the Documentation tab of this publication.
A link to the historical data is available at the bottom of this publication.
Next issue: 22 December 2023 at 12:00 pm.