The price of free housing moderates its growth rate to 7.6% in the third quarter

The price of free housing rose 7.

The price of free housing moderates its growth rate to 7.6% in the third quarter

The price of free housing rose 7.6% in the third quarter in the interannual rate, four tenths below the growth of the previous quarter, according to the Housing Price Index (IPV) of the National Institute of Statistics (INE) published this Friday.

With the increase in the third quarter, the price of free housing already accumulates 34 quarters of year-on-year growth, which is equivalent to a little over eight years of continuous increases.

By type of home, the price of new homes increased by 6.8% compared to the third quarter of 2021, which is two points less than the year-on-year rate registered in the second quarter of 2022.

For its part, the price of used housing increased by 7.8% in the interannual rate, one tenth below the growth experienced in the previous quarter.

CANTABRIA LEADS THE ANNUAL INCREASE IN PRICES

In the third quarter, the interannual rate of the free house price decreased in most of the autonomous communities.

The greatest decreases occurred in the Balearic Islands, Murcia and Andalusia, with decreases of 2.6, 2.2 and 1.9 points, respectively.

In contrast, the most pronounced increases in the interannual rate occurred in the Basque Country, Extremadura and Catalonia, with increases of 1.3, 1.2 and nine tenths, respectively.

Cantabria, with a rate of 9.3%, is the autonomous community where the price of free housing has increased the most between the third quarter of 2021 and the same period this year. They are followed by the Balearic Islands and Andalusia, with increases of 8.3%, and the Canary Islands, La Rioja and Catalonia, all of them with a price increase of 8.1%.

For their part, the most moderate year-on-year increases were registered by Galicia and Aragón, where prices rose by 6.1% and 6.2%, respectively, compared to the third quarter of 2021.

QUARTERLY GROWTH ALSO MODERATES

In the interquarterly rate (third quarter over second quarter), house prices rose by 1.7% between July and September, two tenths less than in the second quarter and almost one point less than the increase in the first.

With this new rise in the third quarter, there are already seven consecutive quarters of increases in housing prices.

New home prices increased 0.9% in the third quarter, eight tenths more than in the previous quarter, while second-hand home prices rose 1.9% between July and September, four tenths less than they did in the second quarter.

In quarter-on-quarter terms, house prices rose between July and September in all the autonomous communities in relation to the previous quarter. The greatest increases occurred in Madrid (2.3%); La Rioja and the Basque Country (2.2% in both cases), and in Catalonia, with a quarterly increase of 2.1%.

At the other extreme, with the most moderate quarterly increases, are the communities of Asturias and Murcia (0.6% in both cases); Galicia (0.7%), and the Canary Islands and the Valencian Community, both with a price increase of 1% compared to the previous quarter.

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