How will House Prices start in 2024?

The National Institute of Statistics (INE) has just published the data from the Housing Price Index (IPV) for the third quarter of , which reflects an increase in the annual rate of variation in housing prices: almost one point more than the previous quarter. Will the same trend continue in Let’s find out. Have you not sold your home yet? Don’t worry, we help you sell it at the best price and in 60 days I’M INTERESTED Housing price evolution According to the National Institute of Statistics (INE), the annual variation rate of the Housing Price Index (IPV) has increased this quarter to reach the figure of 4.5%, nine tenths more than the previous quarter. To a lesser extent, the quarterly rate has also increased, which presents a variation of 2.5% compared to the second quarter. By type of housing, the annual rate of new housing has reached 11% , the highest in the last 16 years, representing an increase of 3.3 points more compared to the second quarter. Regarding the quarterly rate, The price of new housing rises 4.1% between the third and second quarter of the year. For its part, second-hand homes present an annual variation of 3.2% , three tenths above the data for the last quarter. Likewise, the quarterly rate for this type of housing has increased by 2.2%.

So, what predictions are there for house prices

According to experts, house prices in should begin to stabilize, and could even drop to 2% . Even so, it must be kept in mind that any variation that may occur in the price of housing in will depend greatly on the situation of interest rates; if they rise or fall, the price of housing will also do so accordingly . I WANT TO KNOW THE VALUE OF MY HOME Variation rates by autonomous communities All autonomous communities present positive annual and quarterly rates in this third quarter, that is, housing prices have increased in all communities . Regarding the annual rate , the largest increases in housing prices compared to last year have occurred in the Foral Community of Navarra (7.6%), the Canary Islands (6.6%) and Cantabria (5.9%). . On the other hand, Castilla La-Mancha (1.0%), Extremadura (1.1%) and La Rioja (1.9%) registered the smallest increases in annual rates. Recommended reading: Discover the price per square meter by location Regarding the quarterly rate , the Foral Community of Navarra, the Balearic Islands, the Basque Country and the Canary Islands are the communities with the greatest increases, 3.1% in the first two and 3.0% in the last two.

Forecasts for the autonomous communities of housing prices in 2024

The lowest rates have occurred in Castilla La-Mancha (0.6%), Extremadura (0.6%) and Castilla y León (1.1%). Annual variation in housing prices Annual variation rate of the autonomous communities in the third quarter of Menos Más Galicia 4.6% Source: HousfyCreated with Datawrapper Following the line of national decline in housing prices, the forecast for the autonomous communities is also for a slight and progressive decrease in housing prices by , especially in those with lower demand and less tourist attraction. Likewise, the same trend is expected to continue in in terms of new and second-hand housing, that is, the annual rate will show more moderate increases in second-hand housing and more intense increases in new housing. It should be noted that all these predicted decreases in housing prices in will not be price decreases as such, since after the anomalous increases, the rates will simply be returning to the starting figures.