House Prices in Andalucia Increase in the First Quarter of the Year

HOUSE prices in Andalucia have increased in the first quarter of the year. The average price of housing in Andalucia rose 0.7 per cent in the first quarter of the year in the interannual rate, according to the Housing Price Index (IPV) of the National Institute of Statistics (INE) published this Tuesday, June 8.

As reported by Andalucia Informacion, by type of home, the average price of new homes in the region increased by 6.2 per cent year on year, while that of second-rate homes fell 0.1 per cent. At a quarterly rate, the average house price in Andalucia fell two-10ths between January and March. By type of home, prices for new homes fell 1.2 per cent between the fourth quarter of 2020 and the first of this year, and those for second-hand homes by 0.1 per cent.

Meanwhile, in the whole of Spain, the price of housing increased by 0.9 per cent in the first quarter, six-10ths less than in the previous quarter and its lowest rate since the third quarter of 2014. With the rebound in the first quarter, the price of housing has already accumulated 28 quarters of year-on-year growth, although with a moderation trend.

The price of second-hand homes increased 0.7 per cent year-on-year in the first quarter, three-10ths more than in the previous quarter. In the case of new homes, their price increased by 2.3 per cent year-on-year in the same period, almost six points less than in the previous quarter and its lowest rate since the fourth quarter of 2014.

At a quarterly rate, the first quarter of 2021 over the fourth quarter of 2020, the price of housing rebounded 0.5 per cent between January and March, compared to the decrease of 0.8 per cent registered in the previous quarter and the advance of 1.1 per cent from the first quarter of 2020. New home prices decreased 0.6 per cent between the fourth quarter of 2020 and the first of this year, while second-hand home prices increased 0.7 per cent, compared to the declining quarterly of the 1.1 per cent registered in the last three months of 2020.