The house price index produced by Sociedad de Tasacion – a large appraisal company – shows that Spanish house prices were still falling in Q2.
The average price of property fell 3% to 1,284 €/m2 over 12 months to the end of June, and by 2.4% over three months, according to the latest house price data from Sociedad de Tasacion (ST).
Peak-to-present, Spanish property prices have fallen 46.5% since topping out at 2,401 €/m2 in 2007, the index for ST reveals.
ST break down the index into various categories, including by quality. This segmentation reveals that prices fell the most at the bottom end of the market (-9.1%), and fell the least at the top end (-1.3%). House prices in the middle market fell 2.5% in Q2.
By region, the ST index shows house prices rising in Madrid and Barcelona’s property market – the biggest markets – but falling in all other regions.
ST also produce a real estate sector confidence index, surveying 600 property professionals on key economic and industry variables. The index rose to 49.5 in Q2, just shy of the neutral 50 mark, where the outlook is neither positive or negative. The index has been rising since bottoming out in the last quarter of 2012.