The latest property market figures from the General Council of Notaries show sales and mortgage lending continuing to recover, but not enough to stop prices falling a national level.
There were 42,330 home sales witnessed by notaries in June, up 7.1% in a year (but up by a more moderate 6.6% when adjusted for seasonality), which the notaries once again say reflects “the underlying trend towards recovery in the property market.”
New mortgage signings were up 13.3% to 18,904, and the average mortgage value up 0.4% to €128,480. Increasing mortgage lending and value is a positive sign for the market.
The national average price of property sold in the month was 1,290 €/m2, a decrease of 1.9% compared to the same time last year, showing that Spain as a whole still has a problem with too much supply and not enough buyers. The national average disguises big differences between local markets and segments, with prices stable or rising in markets with strong demand in cities and on the coast, whilst falling in many parts of the interior.