house buying and selling worsened his decline There was an annual decrease of 23.7% in September. Biggest drop since June 2020and had a negative eight-month period in a context marked by successive developments rises interest rates and the resulting increase in the cost of financing.
According to the data released this Friday by the National Institute of Statistics (INE), specifically 44,086 house sales were recorded; This was the lowest number of transactions since April and the lowest number of transactions in September in three years.
In addition to this decrease on an annual basis, compared to the previous month, August, Housing sales decreased by 10.5%This puts the total decline so far this year at 8.5%.
Second-hand home sales fell by 24.5 percent
In September, the largest number of second-hand transactions, representing more than 81% of the total, continued to decline, reaching 35,908 transactions, down 24.5% compared to the same month in 2022.
For your part, New home transactions also fell 19.7% year over year. Up to 8,178 transactions. With this data, it presents negative rates in 10 of the last 13 months.
Either way, these are the largest declines recorded since July 2020.
While there was a 9.5% decrease in second-hand housing transactions in total for the year, the decrease in new housing transactions decreased to 4%.
According to the regime, free housing reached a total of 40,768 operations in September, representing more than 92% of the total; this is 23.5% less than a year ago. in case protected housing There were 3,318 transactions, a 25.3% decrease compared to a year ago.
Used home transactions, which are the most numerous on the market and represent more than 80% of operations, were the most affected, down 24.5%, while new homes fell 19.7%.
decreased by 10.5 percent compared to August
With the annual decrease, Purchases and sales decreased by 10.5% quarterly.
In this case, the biggest decrease compared to the previous month was seen in new houses with 13.2 percent, while the decrease in second-hand houses was 9.8 percent.
While housing transactions began to decline in December, with a decline of over 10%, this decline was interrupted in January with a rise of 6.6%.
They fell at the same rate again in February; This trend continued with a 5.7% correction in March, further strengthening with an 8.1% decline in April, and continued with a 6.4% lesser decline in May and June, respectively. These declines continued with a 10.5% cut in July, further aggravated with a 14.4% cut in August, and approached 24% in September.
It is seen in all communities, especially in the Canary Islands (-40%)
Buying and selling of houses There were declines in all communities in September, with the Canary Islands leading the way with a decline of over 40%.
Extremadura (32.2%) and Aragon (31.1%) were also among the biggest declines.
Catalonia (-28.8%) was also above average; Balearic Islands (-27.2%); Andalusia (-26.6%); Basque Country (-25.6%) and Madrid (-23.8%).
In September, 153,247 properties were registered in the land registry; This rate is 13.2% less. With 82,778 transactions during the year, registered property purchases and sales decreased by 20.1%, stock exchanges decreased by 17% (404), donations decreased by 16.2% (3,306 units) and inheritances decreased by 3.8% (36,934).
Other operations (land consolidations, horizontal divisions, due dates, mortgage foreclosures or judicial decisions, and others) reached 29,825, 1.1% less.