Official House Price Index -6.8pc in Q2

Spain’s official House Price Index, published by the Statistic’s Institute (INE), shows that house prices fell 6.8pc over 12 months to the end of June, compared to -4.1pc at the end of March.

The fall is in-line with the 7pc annualised decline in August announced by Tinsa, reported here last week.

So it looks like Spanish property prices are back on a downward trend, having spent most of last year clawing their way towards positive territory, though never quite reaching it.

Broken down by type, new build prices fell 5.2pc, and resale prices 8.3pc.

As you can see from the chart below, which gives annualised declines by region in Q1 (orange) and Q2 (red), prices fell the most in La Rioja (-10.9pc) followed by Cantabria (-9.2pc), both in the North of Spain.

Prices fell the least in The Balearics, where the property market is holding up better than many parts of the peninsula.



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About Mark Stücklin

Mark Stücklin is a Barcelona-based property market analyst and consultant, and author of the 'Spanish Property Doctor' column in the Sunday Times (2005 - 2008). He can be reached by email on