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Resale housing prices fell more gently in the third quarter of 2011

Resale housing prices fell more gently in the third quarter of 2011

Resale housing prices fell more gently in the third quarter of 2011 (-0.5%) to stand at €2,167 per square metre. the summer relaxed the market price

decreases: while in the second quarter 80.8% of the municipalities price cuts, three months later the figure has come down to 68.3%.

Five autonomous communities have concluded the fiscal quarter with increases  in their resale housing prices: the canary isles (1.1%), Valencia (1%), Asturias (0.7%), Cantabria (0.2%) and Murcia (0.2%). in euskadi prices remained unchanged (0.0%), whereas the most significant falls were seen in Aragon (-3%) and la Rioja (-2.5%).

Principal capital cities

During the third quarter of the year, resale housing prices in Barcelona continued their downward procession: a fall of 2.7% leaves its square metre costing €3,650, almost the same as that recorded in the third quarter of 2004, when it lay at €3,743/m2 . in yearon-year terms, the city has recorded a decrease  of 10.5%. since reaching its all time high in the first quarter of 2007 (€4,888/m2 ), Barcelona has accumulated price falls of  25.3%.

 Resale housing prices continued spiralling downward in Madrid during the third quarter of the year. the capital suffered deceases of 0.6%, its prices now standing at €3,553/m2 , a figure below that being asked in the first quarter of 2004 (€3,603/m2 ). The  year-on-year figure comes to –6.7% if we take its all-time high as our reference, achieved in the capital in the second quarter of 2007 (€4,315/m2 ), the aggregate fall reaches 17.7% .

Valencia strings together 15 consecutive quarterly falls in resale housing prices. During the third quarter of 2011, square metre prices underwent a 0.6% decrease to stand at €2,171. The year-on-year fall is 6.1% the cumulative fall since Valencia reached its top price during the second quarter of  2007 (€2,861/m2 ), totals 24.1%.

The other big markets also saw their prices fall. The biggest decrease was in Zaragoza (-4.4%), followed by Seville (-2%), Bilbao (-1%) and Palma de Mallorca (-0.1%)