For many months now it has been widely thought that the slump in the Spanish property market is bottoming out, and at last the latest statistics published by the country’s central statistics unit seem to bear this out.
The latest figures for the national housing price index, which relate to the third quarter of 2014, show that average house prices at the end of September were 0.2% higher than at the end of the second quarter and 0.3% higher than a year before, and in terms of the year-on-year comparison this represents a confirmation of the return to inflation for the first time since 2007.
The region of Valencia is reported as being one of the most noteworthy contributors to this national trend. A third-quarter increase of 0.4% and a year-to-date rise of 3.5% contribute to a year-on-year increase in average house prices of 0.9%, making the Comunidad Valencia one of six regions to show positive price development over the last twelve months.
Although the figures are somewhat less impressive than for the previous quarter, when a year-on-year increase of 2.3% was recorded, this is largely due to the way in which the 2013 are gradually being phased out of the equation, and all the signs are that when 2014 draws to a close it will have been a positive year for this market indicator in the provinces of Castellón, Valencia and Alicante.
In terms only of new-build properties, prices are reported to have risen by 1.4% in the quarter and 0.2% over the last twelve months, while for second-hand housing there have been price increases of 0.2% in the third quarter and 1.5% since September 2013. Again, though, the year-to-date figures suggest that the upward trend will be confirmed when the fourth-quarter price bulletin is published.
All Text and Images are Subject to Copyright