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Spanish house price data published in August

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Every month the SPI House Price Index Tracker plots the progress of the seven most-watched house price indices in Spain, and puts them all on one page.

The latest Spanish house price indices published this month are highlighted in the chart above.

Data from the General Council of Notaries showed national average prices falling 1.9% over 12 months to the end of June, whilst figures from Tinsa, Spain’s leading appraisal company, showed the average index up an annualised 0.3% in July.

Tinsa also revealed that average house prices in mainland coastal areas rose 0.3% (leaving them down 47.5% from the peak), and by 1.7% in the Canaries and Balearics (-29.2% from the peak).

In reality the national figures are not much use to buyers and sellers who want to know what is going on in their local market segments, which can vary substantially from the national picture. They do, however, get a lot of media attention in Spain, and might influence expectations.

The latest figures published this month suggest that, as a whole, the Spanish property market is still oversupplied and vendors lack pricing power due to the quality and volume of resale homes on the market. That pushes prices down.

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