The price of homes continued to increase last quarter, although the pace of increase was lower than in previous months. The housing price index rose by 4.9% over the third quarter of 2013, in what was the fourth consecutive time that the National Statistics Institute (INE) performed well compared to the same period last year.
Rising prices, which was lower than the second quarter (was 5.9%) was more pronounced in new homes (5.9%) than in existing (4.3%), although the share of these in total volume of transactions (77.3%) was the highest since the beginning of this statistical series in the first quarter of 2009. A total of 20,454 homes were sold, of which 15 808 second hand.
Between July and September, the sale of homes increased 0.8% over the same period of 2013, the lowest growth rate since the second quarter of 2013 when it was interrupted a series of eleven negative rates.
The sale of second-hand houses intensified: sold more 7.8% of these homes than in the previous quarter. Moreover, the new houses raised less purchases: the number of transactions fell 6.5%. Already on year, the new housing sales fell 12.5%, while the existing housing transactions rose by 5.5%.
The price index (calculated from the IMT, a tax on buying and selling a home, and IMI, the property taxes) fell by 0.4% between the second and third quarters, interrupting a period of one year of successive increases in the average value of traded accommodations, mainly reduction of 0.7% in house prices second-hand, since the new houses remained.
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