Informations Rapides ·
30 November 2023 · n° 304
In Q3 2023, the fall of prices of second-hand dwellings intensified (‑1.1%) Notaries-INSEE second-hand dwellings price index - third quarter 2023
In Q3 2023, prices of second-hand dwellings in France (excluding Mayotte) fell again over a quarter at a more marked pace: ‑1.1% compared to Q2 2023 (provisional seasonally adjusted results), after ‑0.8% in Q2 2023 and -0.3% in Q1 2023.
Over a year, prices declined for the first time since 2015: ‑1.8% in Q3 2023, after +0.5% in Q2 and +2.7% in Q1. Prices fell by 1.6% for houses and 2.0% for flats.
On 15 March 2024, following the detection of an error, the change in the stock of available dwellings was corrected: +0.9% between 1 January 2022 and 1 January 2023 (instead of +0.7% as initially indicated).
In Q3 2023, prices of second-hand dwellings in France (excluding Mayotte) fell again over a quarter at a more marked pace: ‑1.1% compared to Q2 2023 (provisional seasonally adjusted results), after ‑0.8% in Q2 2023 and -0.3% in Q1 2023.
Over a year, prices declined for the first time since 2015: ‑1.8% in Q3 2023, after +0.5% in Q2 and +2.7% in Q1. Prices fell by 1.6% for houses and 2.0% for flats.
tableauVariation in prices of second-hand dwellings in France over a year
France - flats | France | France - houses | |
---|---|---|---|
2023-Q3 | -2.0 | -1.8 | -1.6 |
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

- 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 | |||||
2023 Q1 (d) | 2023 Q2 (d) | 2023 Q3 (p) | 2023 Q1 (d) | 2023 Q2 (d) | 2023 Q3 (p) | |
France | -0.3 | -0.8 | -1.1 | 2.7 | 0.5 | -1.8 |
Flats | -0.1 | -1.0 | -1.2 | 2.1 | 0.0 | -2.0 |
Houses | -0.4 | -0.6 | -1.0 | 3.0 | 0.9 | -1.6 |
- (p): provisional; (d): definitive.
- Scope: France (excluding Mayotte).
- Sources: INSEE, ADSN – BIEN – Grand Paris notaries, French notaries, Perval society.
Second-hand dwelling prices continue to fall in Île-de-France
In Q3 2023, the prices of second-hand dwellings in Île-de-France went down over a quarter for the fourth quarter in a row: ‑2.0% in Q3 2023, after ‑2.0% in Q2 and ‑1.3% in Q1. They fell by 2.6% for houses and by 1.7% for flats. In Paris, the fall in flat prices eased slightly in Q3 2023: ‑1.3% after ‑2.4% in Q2.
Over a year, prices of second-hand dwellings in Île-de-France fell sharply in Q3 2023: ‑5.3%, after ‑3.1% in Q2 and ‑0.6% in Q1. In Île-de-France, house prices fell by 5.4% (after ‑1.9%), while those of flats decreased by 5.3% (after ‑3.7%). The year-on-year fall in flat prices intensified in both the immediate suburbs (‑6.0% after ‑3.8%) and the outer suburbs (‑4.0% after ‑1.7%).
In Provincial France, prices of second-hand dwellings fall over the year for the first time since 2015
The prices of second-hand dwellings in Provincial France accelerated in Q3 2023: ‑0.8% after ‑0.4% in Q2 2023.
Over a year, prices fell for the first time since 2015: ‑0.5% in Q3 2023, after +1.8% and +3.9%. House prices were down (‑1.0% after +1.3%), while flat prices continued to rise slightly (+0.5% after +2.8%).
tableauSecond-hand dwellings price index in metropolitan France
Province - flats | Province - houses | Île-de-France - flats | Île-de-France - houses | |
---|---|---|---|---|
2023-Q3 | 135.0 | 134.6 | 122.2 | 120.1 |
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

- 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 | |||||
2023 Q1 (d) | 2023 Q2 (d) | 2023 Q3 (p) | 2023 Q1 (d) | 2023 Q2 (d) | 2023 Q3 (p) | |
Metropolitan France | -0.2 | -0.8 | -1.1 | 2.7 | 0.5 | -1.8 |
Île-de-France | -1.3 | -2.0 | -2.0 | -0.6 | -3.1 | -5.3 |
Provincial France | 0.2 | -0.4 | -0.8 | 3.9 | 1.8 | -0.5 |
- Auvergne-Rhône-Alpes | -0.2 | -0.7 | -0.8 | 3.1 | 1.0 | -1.5 |
- Hauts-de-France | -1.0 | -0.7 | -1.3 | 0.9 | -1.0 | -3.1 |
- Provence-Alpes-Côte d'Azur | 0.4 | 0.8 | -0.3 | 5.8 | 4.6 | 1.6 |
Flats | -0.1 | -1.0 | -1.2 | 2.1 | 0.0 | -2.0 |
Île-de-France | -1.2 | -2.2 | -1.7 | -1.3 | -3.7 | -5.3 |
- Paris | -1.3 | -2.4 | -1.3 | -2.0 | -4.4 | -5.3 |
- Immediate suburbs | -1.6 | -2.1 | -2.1 | -1.4 | -3.8 | -6.0 |
- Outer suburbs | -0.4 | -1.7 | -2.2 | 0.9 | -1.7 | -4.0 |
Provincial France | 0.7 | -0.2 | -0.8 | 4.7 | 2.8 | 0.5 |
- Conurbation > 10 000 inhabitants | 0.7 | -0.3 | -1.0 | 4.5 | 2.5 | 0.1 |
Central town | 0.6 | -0.5 | -1.1 | 4.3 | 2.2 | -0.4 |
Suburb | 0.8 | 0.1 | -0.7 | 4.8 | 3.1 | 1.0 |
- Conurbation < 10 000 inhabitants | 1.1 | 0.9 | 0.5 | 6.4 | 5.3 | 3.9 |
- Auvergne-Rhône-Alpes | 0.0 | -0.4 | -1.4 | 3.1 | 1.5 | -0.9 |
Lyon | -1.2 | -2.5 | -3.2 | -1.9 | -4.4 | -7.3 |
- Hauts-de-France | 2.0 | -2.4 | 1.1 | 4.6 | -0.4 | -0.2 |
- Provence-Alpes-Côte d'Azur | 1.2 | 1.5 | -0.3 | 6.3 | 5.8 | 3.2 |
Marseille | 1.6 | -0.5 | -1.0 | 6.6 | 3.8 | 0.6 |
Houses | -0.3 | -0.6 | -1.0 | 3.1 | 0.9 | -1.6 |
Île-de-France | -1.4 | -1.6 | -2.6 | 0.7 | -1.9 | -5.4 |
- Immediate suburbs | -0.6 | -1.9 | -2.9 | 0.4 | -2.3 | -6.0 |
- Outer suburbs | -1.8 | -1.5 | -2.5 | 0.9 | -1.7 | -5.1 |
Provincial France | -0.1 | -0.5 | -0.7 | 3.5 | 1.3 | -1.0 |
- Auvergne-Rhône-Alpes | -0.3 | -1.0 | -0.3 | 3.1 | 0.5 | -2.0 |
- Hauts-de-France | -1.6 | -0.3 | -1.7 | 0.2 | -1.2 | -3.6 |
Conurbation of Lille | -1.3 | -1.0 | -3.4 | 0.1 | -1.3 | -5.3 |
- Provence-Alpes-Côte d'Azur | -0.3 | 0.2 | -0.3 | 5.3 | 3.5 | 0.1 |
- 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 September 2023
In Q3 2023, the annual volume of transactions continued to fall: at the end of September 2023, the annual number of transactions over the last twelve months was estimated at 928,000, after 1,001,000 at the end of June 2023. Compared to the stock of available dwellings which increased by 0.9% between 1 January 2022 and 1 January 2023, the proportion of transactions concerned 2.5% of the stock, which corresponds 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-Q3 | 928 |
2023-Q2 | 1001 |
2023-Q1 | 1070 |
2022-Q4 | 1115 |
2022-Q3 | 1138 |
2022-Q2 | 1160 |
2022-Q1 | 1177 |
2021-Q4 | 1176 |
2021-Q3 | 1201 |
2021-Q2 | 1151 |
2021-Q1 | 1078 |
2020-Q4 | 1025 |
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 7 September 2023, the quarterly change in prices of second-hand dwellings in France (excluding Mayotte) in Q2 2023 is not revised (after rounding): ‑0.8%.
For further information
The calculation of indices is based on the transactions completed over 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 number 132 released in June 2019 (in French only).
Next issue: 29 February 2024 at 8:45 am.
Pour en savoir plus
The calculation of indices is based on the transactions completed over 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 number 132 released in June 2019 (in French only).
Next issue: 29 February 2024 at 8:45 am.