He housing cost does not step on the brake, on the contrary, it accelerates month by month until the first trimester this year with a year-on-year increase of 6.3%, which is 2.1 points more than in the previous quarter and the highest since the summer of 2022 when it became 7.6% more expensive. In the case of the new housing prices have skyrocketed by 10.1% In year-on-year terms between January and March, 2.6 points more compared to the data from the previous quarter.
With this latest comeback, the price of free housing accumulates 40 consecutive quarters of increases year-on-year in Spain, according to data from the Housing Price Index (IPV) of the National Institute of Statistics (INE) published this Thursday.
Although to a lesser extent, the cost of second-hand housing has also increased, but has not reached double digits for new construction. In the first quarter, its cost increased by 5.7% year-on-yearmore than two points above the last quarter of 2023 and its biggest increase since the summer of 2022.
“The price of housing maintains very significant levels of increase, so the increase in price from the last exercises is capital. The data presented in the most stressed communities are worrying, showing very intense increases,” he indicates. Maria Matos, Director of Studies and spokesperson for Fotocasa.
He attributes this rise to the fact that demand purchasing right now is strong and “too firm for supply to absorb it, so the tension in prices has been constant for two years.”
Also Ferran Font, director of .com apartment studies, attributes the rise in prices to the fact that “the areas where there is a greater concentration of demand are leaving running out of offer available”.
In his opinion, “these increases are no longer limited only to central urban centers, where the highest bidder has always won, but in more remote areas where it was possible to become an owner with an average salary and some savings, prices are no longer affordable for many buyers.”
The homes have been expensive in all autonomous communities in year-on-year rate with Andalusia leading the comeback with a 7.9%, followed by Navarra, with 7.6%; La Rioja (+7.1%) and Aragón (+7%).
With increases higher than the national average of 6.3%, the autonomous city of Ceuta (+6.9%) and the regions of Cantabria (+6.8%), Valencian Community (+6.5%) and Basque Country (+6.4%).
The more moderate increases They occurred in the autonomous city of Melilla, with 4.7%and in the communities of Castilla-La Mancha (+4.9%) and Asturias and Galicia, both with a year-on-year increase in the price of free housing of 5.1%.
The INE estimates that between the last quarter of 2023 and the first quarter of 2024, housing prices rose by 2.6%, their biggest comeback in two years. The price of the used home between January and March of this year it grew 2.2%in front of 1% decline from the previous quarter.
Regarding the price of the new home it shot itself 5.5% in quarterly rate, in contrast to the 1.4% drop experienced between October and December 2023. This quarterly rebound in the price of new housing is the largest in the INE series.
