House Sales In Spain Reach Maximums In A Decade

House sales in Spain reach maximums in a decadeAndalucia, Catalonia, Valencia and Madrid account for 65.5% of the operations in the year

The housing market continues to show an intense dynamic. Sales increased 9.7% in September, and drives an accumulated figure of 395,534 operations in the year so far, the largest volume in this period since 2008. Although the vigour is seen in all segments, sales of new houses stand, up 11.5% up to Q318.

In September 42,766 housing sales were registered: 81.3% correspond to used housing, with a year on year increase of 9.6%, slightly inferior to the 9.8% for new housing. The growth in protected housing stands out, which have increased 13.8% in the month, even if that only represents 9.7% of transactions.

Annual transactions rise to 506,749 sales (+12.6%), with a recovery of 72.7% from minimums and 34.6% below the maximum of 775,000 transactions.

Andalucia, Catalonia, Valencia and Madrid account for 65.5% of the operations in the year so far, but in terms of dynamism, there is a reduction in Catalonia (+2.4% with Barcelona growing only 2.1%), a moderation in Madrid (+8.9% after growing 19% in 2017) and even a fall in the Balearics (-1.9% after growing 15% in 2017). On the other hand the vigour stands out in Murcia (+24% in the year so far), Castile-La Mancha (+18.8%) and Valencia (17.4%), as well as the provinces of Guadalajara (+35.1%), Teruel (34.4%), Huelva (33.3%), Castellon (28.6%), Toledo (28.1%) and Almeria (25.7%).

In terms relative to population, Valencia (1.555 sales for each 100,000 inhabitants) and the Balearic Isles (1,288) mark the highest levels of activity between January and September, well above the national average (1,073 sales per 100,000 inhabitants) and almost three times that registered in Galicia (567).

The transfer of housing because of judicial rulings and default continue six months at high levels. In September they totalled 13,209 operations (+7.4%) and in the year so far marks an increase of 10.9% (after a fall of 3.9% in 2017). In the last 12 months this has affected 195,058 households, the highest annual figure since June 2016.