The following graph shows that, after 26 quarters of year-on-year falls in the price of housing, initiated at the end of 2008, the figure represents the eighteenth consecutive quarter of nominal price increase.
On the other hand, in real terms, that is, discounting inflation, the price of free housing has experienced an increase of 2.2%.
By autonomous communities, it is found that there are only two communities with interannual price declines, La Rioja (-5.5%), Asturias (-0.2%). The rest show year-on-year growth, highlighting the Balearic Islands (4.8%), Navarra (4.6%), Madrid (4.6%), Valencian Community (4.3%) and Aragon (4.2%).
Evolution from maximums
According to the historical series of this statistic, the average value per square meter of the third quarter of 2019 is 22% lower than the maximum level reached in the first quarter of 2008, in which it reached its maximum value. From the minimum value reached in 3Q2014 the price has recovered 12.5%. In real terms (taking into account the variation in the CPI) the current price reflects a drop from highs of 31.8%.
Analysis by seniority of homes and municipalities.
The average value of the square meter of free housing up to five years old stood at 1,881.0 euros in the third quarter of 2019. This represents an interannual growth of 2.8%.
As for free housing more than five years old, the price reached 1,630.7 euros per square meter, which represents a 3.1% increase in the interannual rate.
For municipalities with more than 25,000 inhabitants, the highest prices of free housing are presented in San Sebastián, 3,887.8 euros / m2, Santa Eulalia del Río, 3,620.6 euros / m2, Ibiza, 3,505.9 euros / m2, Barcelona, 3,412.2 euros / m2, Sant Cugat del Vallès, 3,403.1 euros / m2, Madrid, 3,227.4 euros / m2, Pozuelo de Alarcón, 3,186.8 euros / m2 and Castelldefels, 3,079.2 euros / m2.
The lowest prices in municipalities with more than 25,000 inhabitants are recorded in Elda, 565.5 euros / m2, Villarrobledo, 589.2 euros / m2, Puertollano, 602.5 euros / m2, Jumilla, 610.5 euros / m2, Villena, 625.2 euros / m2 and Tomelloso, 639.0 euros / m2.
Protected housing
The average price of the square meter of protected housing in Spain in the third quarter of the year was 1,123.9 euros. The variation with respect to the same quarter of 2018 shows a drop of -0.3%.
Appraisals
The number of real estate appraisals used to calculate the average values of the homes was in the third quarter of 2019 of 120,092.
The data used in the calculation of Housing Prices correspond to dwellings assessed by the different appraisal companies that are part of the Association of Value Analysis (AEV) whose valuation rules are regulated according to Order EHA / 3011/2007 of the Ministry of Economy and Finance.