After months of decline, prices of old housing were almost stable in the 3rd quarter, according to notary-Insee figures. But deals continue to collapse.
Is this the end of the decline? In France, old property prices stabilized in the third quarter (-0.1%) after a year and a half of decline, according to the benchmark Notaires-Insee index published this Thursday, November 28.
The decline in prices of existing housing had already slowed down in the previous quarter, with a decrease of 0.5%, compared to -1.5% in the first quarter of 2024 and -1.8% in the fourth quarter of 2023.
Over one year, the drop in prices also eased and stood at -3.9%, after -4.9% in the second quarter and -5.2% in the first quarter of 2024. Prices fell for the fifth quarter consecutive.
In Île-de-France, the value of old real estate is stabilizing (-0.1%), after seven consecutive quarters of decline. Outside Ile-de-France, where prices have been falling since mid-2023, the drop is equivalent.
The number of transactions still at its lowest
According to provisional seasonally adjusted data, price declines are similar for houses (-3.9% year-on-year) and apartments (-3.8%).
The number of transactions recorded by notaries “continues to decrease”, as has been the case “since the end of September 2021”, notes the document published by INSEE.
At the end of September 2024, the number of transactions carried out over the last 12 months is estimated at 780,000, after 792,000 at the end of June 2024 and 825,000 at the end of March 2024. The number of transactions accumulated over twelve months has thus reached a new low since 2015.
Belgium
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