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French property prices: indexes and maps


Notaires-INSEE Indexes

In the fourth quarter of 2018, prices of older properties in France (excluding Mayotte) continued to rise: +0.7% compared with the third quarter of 2018 (provisional seasonally adjusted figures), after +1.0%.

Over one year, the upturn in prices rose slightly: +3.2%, after 2.9%. As has been observed since the end of 2016, even though the gap is closing, the upturn remains greater for apartments (+3.4%) than houses (+3.1%).

Since the second quarter of 2017, the annual price growth of older properties in France has oscillated around 3%.

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Median price per sq.m. for older apartments in the 4th quarter of 2018

Median price per sq.m. for older apartments in the 4th quarter of 2018

In terms of older apartments in the largest provincial towns, even though the majority of the towns have seen prices rise, Grenoble and Saint-Etienne are showing falls in price, as in the previous quarter. Nancy, Orleans and Reims join them, with falls of between 2% and 7% over one year.

In Rennes and Lyon, prices continue to progress significantly (6% and 8% respectively). Prices are stable in Marseille..

Enlarge the map of median price per sq.m. for older apartments in the 4th quarter of 2018


Median selling price of older houses in the 4th quarter of 2018

Median selling price of older houses in the 4th quarter of 2018

For older houses in the main provincial agglomerations, the trend is mitigated. The agglomerations of Lille, Bordeaux, Marseille, Lyon, Nantes, Toulouse and Nice saw their prices rise from between 4% and 9%. Conversely, in Douai-Lens, Valenciennes and Rouen, prices fell by between 2% and 6%.

Enlarge the map of median selling price of older houses in the 4th quarter of 2018


Loans (Banque de France data - January 2019)

Loans (Banque de France - data January 2019)

The annual credit growth rate for individuals remained at a high level in January 2019 (+5.9%, after 6.0% in December 2018), still driven by home loans (+5.8%, unchanged compared with December 2018).

The average interest rate on new home loans (long-term fixed rate) stabilised in January 2019 (1.50%, after 1.49% in December 2018), after 12 months of almost uninterrupted fall. In December 2018, banking institutions reported a slight increase in demand for home loans.


French property market report: Consult the interactive pdf


French property market report: definitions

Seasonally adjusted prices

In the same way that the index calculation method smooths out structural effects, corrected seasonal variations adjust seasonal fluctuations. The purpose is to ensure a fair comparison of trends between two consecutive quarters, without this interpretation being distorted by the time of year. For example, property prices rise during the third quarter of each year, house prices in particular, due to demand from families driven by the school year.

Median prices

The INSEE (French National Institute of Statistics & Economic Studies) and Notary indexes are only available for geographical areas where the number of changes of ownership is high enough. At more detailed levels, median prices are used. The median price is such that 50% of transactions were concluded at a lower price and as many at a higher price. It more accurately represents the “midpoint” of the market than the average, as it is less affected by extreme values.

INSEE (French National Statistics & Economic Studies Institute) and Notary indexes

The calculation method used for the INSEE and Notary indexes is based on econometric models which break down the price of a property according to its main characteristics (location, size, comfort, etc.) in order to be better able to withstand structural effects that cause transaction prices to vary from quarter to quarter.

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