Every month the SPI House Price Index Tracker plots the progress of the six most-watched house price indices in Spain, and puts them all on one page.
The house price indices published by the notaries was positive for a second month in a row in March (+2.5%), close to the figure published by the appraisal company Tinsa (+2.7%), based on their own valuations. The resale asking price index published by the property portal Idealista for April was -1.3%, up from a low of -5.6% in January. All the latest results are highlighted in yellow in the chart above.
Regular readers will know I don’t think much of the house price indices published in Spain, but they might influence expectations, so it’s worth keeping an eye on them.
The Tinsa index, which I find the most credible (table below), breaks down house price changes by area. It showed the national average price rising by 2.7% in March, by 5.5% in cities, 1.9% on the coast, and a hefty 7% in the Balearic and Canary islands. That helps explain the outcry over affordable housing in the Balearics.
