Par
Benjamin Epineau
Published on
Oct. 1, 2024 at 4:30 p.m.
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At the start of the 2024 school year, the real estate market is changing. In mid-September, notaries in historic Brittany noted a drop in prices and volumes.
“In this region we are witnessing, in the second quarter as in the first, a marked slowdown, with a significant drop in transactions (-20 %) and prices, particularly for old houses (-6,4 % in Loire-Atlantique and -3.6% in Ille-et-Vilaine)”, describes Maître Anne Fercoq-Le Guen, president of the Interdepartmental Chamber of Notaries of the Court of Appeal of Rennes.
From a seller’s market to a buyer’s market
“We went from a seller’s market, where everything was priced, to a buyer’s market,” summarizes Marie Denis-Noujaimnotary in Vertou.
A situation resulting from the drop in interest rates (on average below 3.5%) mixed with a strong supply on the market and a drop in transaction volume (-12%).
“Before, there was one property for 30 buyers, now there are 30 properties for 5 buyers.
A situation confirmed by Maxime Gouretdirector of the Orpi agencies in Guérande and La Turballe: “The last time we had so many mandates for sale was in 2010. However, we have half as many compromises and sales. It’s clear that the Covid euphoria and low rates are definitely over. This translates to the closure of many agencies real estate or the halving of the turnover of many agencies. »
Negotiating power
A context which favors negotiation which can be of the order of 5 %.
Sellers are now agreeing to price reductions. This is a trend that we have been seeing in Nantes for a year, but which is arriving on the coast.
Marie Denis-Noujaim
While a decrease in median prices* had already been noted in La Baule (-3.1% between the end of April 2023 and the end of April 2024), another drop of 6.5% is observed for this second quarter with a median selling price of 617 000 €.
A figure which still places the town in the Top 3 of the most expensive towns in historic Brittany behind Carnac (€677,500) and La Trinité (€674,800).
Still difficult for first-time buyers
While in La Baule, Pornichet and Le Pouliguen, buyers are mainly retirees “who pay cash”Marie Denis-Noujaim also sees a few CSP + families arriving from Paris and Nantes “even if there are fewer than before the 2022 boom”.
For the middle class and first-time buyers, it is still difficult to buy. “Many go to the Nazaire area, towards Montoir-de-Bretagne,” explains Marie Denis-Noujaim, who specifies “that it is necessary at least the notary fees as contribution », for a file to be accepted by the bank.
Increase in building land prices
Another development on the real estate market: the increase in building land: + 4.6% at the departmental level with a median price of €81,600. A sales price which saw an increase of 16.5% in Saint-Nazaire (120 000 €) while prices stagnate in La Baule (189 000 €), La Turballe (€172,500), Guérande (€135,000) and Pornichet (€121,300). “Rarity increases prices,” explains the professional.
*Median prices: 50% of properties sold for a lower price and 50% of properties sold for a higher price.
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