The price of a freehold home rose 8% year-on-year in the second quarter, half a point below the growth seen in the previous quarter, when it posted its biggest increase in 15 years. The National Statistics Institute (INE) published on Thursday.
With the increase in the second quarter, the free home price has now accumulated 33 quarters of annual growth, equaling more than eight years of continuous growth.
By home type, new home prices rose 8.8% from the second quarter of 2021, down 1.3 percentage points from the year-over-year rate for the first quarter of 2022.
On the other hand, the price of second-hand housing increased by 7.9% year-on-year, which is three-tenths behind the increase in the previous quarter.
1.9% increase from April to June
Quarter-on-quarter (the second quarter compared to the first quarter), house prices rose by 1.9% between April and June, seven-tenths less than in the first three months of this year. As the second quarter progresses, there have been six consecutive quarters of housing price increases.
New home prices were little changed in the second quarter, with a quarterly increase of 0.1%, compared with a 3.2% increase in the first quarter of the year. In turn, second-hand home prices rose 2.3% from April to June, one-tenth less than in the first quarter.
Source: El Diario