SEP
The statistics produced by the Ministry of Public Works, the National Institute of Statistics and the appraisers seem to indicate that the drop in sales and housing prices is bottoming out and that a period of timid increases could even begin.
The last one that points in that direction is the one produced quarterly by the property registrars. According to the Repeated Sales Housing Price Index (IPVVR), based on the Case and Shiller methodology, published yesterday by the College of Registrars, the price of housing rose by 0.97% between April and June compared to the same period 2013, which represents, according to the registrars, the first year-on-year growth in housing in six years.
In achieving the first price increase since the beginning of the crisis, the improvement in sales has had a special impact. Compared to the previous quarter, the price of housing registered an advance of 1.53%, which means that prices would currently be at the levels of 2003. Despite this, since housing reached its maximum in 2007, the average price has dropped 32%.
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