The SPI House Price Index Tracker plots the progress of the six most-watched house price indices in Spain, and brings them together in one chart. All the latest results showing data published last month are highlighted in yellow in the chart above.

The following residential property price indices were released in September (all figures show year-on-year percentage change):

• The house price index published by the Spanish Government (Fomento) +1.6% in June
• The official house price index published by the National Institute of Statistics +5.6% in June
• The Notaries’ Association index -0.5% in July
• The Tinsa index based on valuations by the company +4.7% in August
• The Idealista asking price index +3.7% in September

The national indices don’t tell us anything about prices in local markets, but the do at least give us an idea of where we are in the property market cycle. Whereas a few years ago they were all in negative territory, they are now broadly in positive territory, suggesting that the contraction in prices is behind us.

The Tinsa index also shows house price changes broken down by type of area (see below). Whilst house prices around Spain rose 4.7% on average, they were up 6.8% in big cities and provincial capitals, by 2.8% in the Balearic and Canary islands, but fell 0.8% on the Mediterranean coast.