The price of free housing moderates its growth rate to 8% in the second quarter

The price of free housing already accumulates 33 quarters of year-on-year growthThe price of used housing increased by 7.9% in the year-on-year rate, three tenths less than in the first quarter The Balearic Islands and Andalusia are the two communities where prices have risen the most of real estate: more than 10%The price of free housing rose by 8% in the second quarter in interannual rate, half a point below the growth of the previous quarter, when it registered its biggest rebound in almost 15 years, according to the Index of Housing Prices (IPV) of the National Institute of Statistics (INE) published this Thursday. With the increase in the second quarter, the price of free housing already accumulates 33 quarters of year-on-year growth, which is equivalent to just over eight years of Continued increases. By type of housing, the price of new housing 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% year-on-year, three tenths below the growth experienced in the previous quarter. The Balearic Islands lead the annual increase in prices In the second quarter , the interannual rate of the price of free housing decreased in all the autonomous communities except in La Rioja and the Basque Country, where it increased six and two tenths, respectively. The greatest decreases, on the other hand, occurred in Extremadura and the Canary Islands, with setbacks of 1.6 and 1.5 points, respectively. The Balearic Islands, with a rate of 10.9%, is the autonomous community where the price of free housing has increased the most between the second quarter of 2021 and the same period of this year. Andalusia follows, with an increase of 10.2%. These two communities are the only ones with double-digit year-on-year increases. For their part, the most moderate year-on-year increases were recorded by Extremadura and Castilla-La Mancha, where prices rose by 5.3% and 6%, respectively, compared to the second quarter of 2021. Quarterly growth also moderates In the quarter-on-quarter rate (second quarter over the first quarter), the price of housing rose 1.9% between April and June, seven tenths less than in the first three months of this year. With the progress of the second quarter, there are already six consecutive quarters of increases in the price of housing. The prices of new housing hardly experienced any variation in the second quarter, with a quarterly increase of 0.1%, compared to the growth of the 3.2% experienced in the first quarter of the year. For their part, second-hand housing prices increased by 2.3% between April and June, one tenth less than they did in the first quarter. Housing prices rose between April and June in all communities self-employed in relation to the previous quarter. The biggest rises occurred in the Balearic Islands (+2.9%); Castilla-La Mancha and Asturias (+2.5% in both cases), and in Murcia, Cantabria and Andalusia, all of them with quarterly increases of 2.4%. At the other extreme, with the most moderate quarterly increases, are the communities of Madrid and Navarra (+1.2% in both cases); Aragon (+1.4%) and the Basque Country (+1.5%). In the autonomous city of Ceuta, the increase was even more moderate, 1%.