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INE Reports House Price Growth of 8% in Q2 Compared to 8.5% in Q1

According to the National Institute of Statistics, house price growth may have peaked in the first quarter of the year.

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Many countries and businesses would love to see growth of 8% per annum. But when we are talking about economics, everything is relative. And the variation in the House Price Index, which the National Institute of Statistics published on Thursday morning, reflects that the variation in house prices in Spain was 8% in Q2 compared with 8.5% in the previous quarter, which seems to indicate, the beginning of the end in terms of house price rises.

A slowdown. The property registrars used that term to define the situation in terms of house sales and mortgage signings in July. And now the INE has tempered the maximum figures that the sector experienced in the spring. By the end of the second quarter, the price of new build homes had grown by 8.8% (1.3 points less than in the previous quarter) and the price of second-hand homes, which are always more resistant, had grown by 7.9% (or three tenths less).

Read the full article in Spanish.

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