The price of housing continues to rise, and strongly, according to the index (IPV) of the National Institute of Statistics (INE). Exactly, households recorded a year-on-year increase of 4.7% in 2016, the largest increase in the market since 2007, when housing costs rose 9.8%. By market segment, new homes went up in value by 6.5% and second-hand homes appreciated by 4.4%.
This annual rebound in prices is already the third followed after six years of tough adjustments. Between 2008 and 2013, the value of housing registered annual declines of varying intensity: from 1.5% in 2008, from 6.7% in 2009, from 2% in 2010, from 7.4% in 2011, from 13% , 7% in 2012 and 10.6% in 2013.
It was not until 2014 that the price of housing returned to positive rates, with an average annual increase of 0.3%, which in 2015 accelerated to 3.6%.
In the fourth quarter of 2016, the price of housing increased by 4.5% in relation to the same quarter of 2015, increasing by a half point the year-on-year increase in the third quarter (4%). This meaning that there have been 11 consecutive quarters in which prices have positive year-on-year rates.
In 2016, all the autonomous communities plus the cities of Ceuta and Melilla registered average positive rates in the price of housing. The most pronounced increases in prices were Madrid (8.6%), Catalonia (7%), Baleares (6.2%), Melilla (5.3%) and Ceuta (5.2%), while minors increases occurred in Castilla-La Mancha (0.8%) and Castilla y León (1.1%).
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