Free housing prices rose by 12.8% in the third quarter of the year compared to the same period in 2024, marking the largest year-on-year increase since the beginning of the historical series, in the first quarter of 2007, when they rose by 13.1%, according to the housing price index (IPV) of the National Institute of Statistics (INE) published on Friday.
With the increase in the third quarter, one-tenth higher than what was seen in the second quarter of the year, free housing prices accumulate 46 consecutive quarters of year-over-year increases.
According to statistics, new housing prices rose by 9.7% year-on-year in the third quarter, 2.4 points lower than in the previous quarter and the smallest year-on-year increase since the third quarter of 2024, while used housing prices rose by 13.4%, a rate six tenths higher than the previous quarter and the highest in the entire historical series, starting in 2007.
All communities and the two independent cities delivered positive annual rates in free housing prices in the third quarter and all were also in double digits.
The largest price increases occurred in Murcia, with an increase of 15%; Aragon (+14.6%); Ceuta and Melilla (+14.5% in both cases); Castile and Leon (+14.4%); Madrid (+14.2%), and La Rioja, which increased its prices by 14.1% compared to the third quarter of last year.
For their part, the most moderate increases in free housing prices occurred in Navarra (+10.9%), Catalonia (+11.3%), the Basque Country and Castilla-La Mancha, which in both cases recorded an increase of 11.6%.
On a quarterly basis (Q3 compared to Q2), free housing prices increased by 2.9%, which is 1.1 points lower than the previous quarter and the most moderate since Q4 2024.
Used home prices rose by 3.3% between July and September, nine-tenths lower than in the second quarter, while new home prices rose by 0.6%, compared to 2.6% in the previous quarter.
(((There will be expansion)))