Monday, March 4

The price of free housing grows 8% in the second quarter of 2022

The price of free housing rose 8% in the second quarter year-on-year, half a point below the growth of the previous quarter, when it registered its biggest rise in almost 15 years, according to the Housing Price Index (HPI) of the Institute National Statistics (INE) published this Thursday.

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With the increase in the second quarter, the price of free housing now accumulates 33 quarters of year-on-year growth, which is equivalent to just over eight years of continuous increases.

By type of home, the price of new homes increased by 8.8% compared to the second quarter of 2021, which is 1.3 points less than the year-on-year rate registered in the first quarter of 2022.

For its part, the price of used housing increased by 7.9% in the interannual rate, three tenths below the growth experienced in the previous quarter.

Growth of 1.9% between April and June

In quarter-on-quarter rate (second quarter over first quarter), house prices rose 1.9% between April and June, seven tenths less than in the first three months of this year. With the advance of the second quarter, there are already six consecutive quarters of increases in the price of housing.

New home prices hardly changed in the second quarter, with a quarterly increase of 0.1%, compared to the 3.2% growth experienced in the first quarter of the year. For their part, the prices of second-hand housing increased by 2.3% between April and June, one tenth less than what they did in the first quarter.