6 April 2020
2020- n° 48In Q4 2019, prices of second-hand dwellings continued to grow Notaries-INSEE second-hand dwellings price index - fourth quarter 2019
6 April 2020: The file of additional data has been updated compared to the publication of 27 February 2020.
In Q4 2019, prices of second-hand dwellings in France (excluding Mayotte) accelerated: +1.3% compared to Q3 2019 (provisional seasonally adjusted results), after +1.0% in Q3 and +0.7% in Q2.
Over a year, the rise in prices also intensified: +3.7%, after +3.2%, and +3.1%. As observed since the end of 2016, this increase was more important for flats (+5.2% over the year) than for houses (+2.6%).
In Q4 2019, prices of second-hand dwellings in France (excluding Mayotte) accelerated: +1.3% compared to Q3 2019 (provisional seasonally adjusted results), after +1.0% in Q3 and +0.7% in Q2.
Over a year, the rise in prices also intensified: +3.7%, after +3.2%, and +3.1%. As observed since the end of 2016, this increase was more important for flats (+5.2% over the year) than for houses (+2.6%).
tableauVariation in prices of second-hand dwellings in France over a year
| France - flats | France | France - houses | |
|---|---|---|---|
| 2011-Q1 | 9.5 | 7.1 | 5.3 |
| 2011-Q2 | 10.0 | 7.1 | 4.9 |
| 2011-Q3 | 8.8 | 6.2 | 4.2 |
| 2011-Q4 | 6.2 | 3.7 | 1.8 |
| 2012-Q1 | 3.8 | 1.8 | 0.4 |
| 2012-Q2 | 1.0 | -0.3 | -1.2 |
| 2012-Q3 | -0.8 | -1.7 | -2.3 |
| 2012-Q4 | -1.4 | -2.1 | -2.6 |
| 2013-Q1 | -1.5 | -2.0 | -2.4 |
| 2013-Q2 | -1.9 | -2.2 | -2.5 |
| 2013-Q3 | -1.7 | -2.3 | -2.8 |
| 2013-Q4 | -1.8 | -1.9 | -2.0 |
| 2014-Q1 | -1.4 | -1.9 | -2.2 |
| 2014-Q2 | -1.3 | -1.4 | -1.4 |
| 2014-Q3 | -2.0 | -1.4 | -1.0 |
| 2014-Q4 | -2.4 | -2.5 | -2.6 |
| 2015-Q1 | -2.8 | -2.4 | -2.1 |
| 2015-Q2 | -3.0 | -2.6 | -2.4 |
| 2015-Q3 | -2.0 | -1.8 | -1.6 |
| 2015-Q4 | -1.1 | -0.4 | 0.2 |
| 2016-Q1 | -0.4 | 0.3 | 0.9 |
| 2016-Q2 | 0.5 | 0.6 | 0.7 |
| 2016-Q3 | 1.0 | 1.3 | 1.5 |
| 2016-Q4 | 1.6 | 1.5 | 1.4 |
| 2017-Q1 | 3.0 | 2.5 | 2.1 |
| 2017-Q2 | 3.7 | 3.1 | 2.6 |
| 2017-Q3 | 4.5 | 3.2 | 2.4 |
| 2017-Q4 | 4.3 | 3.3 | 2.5 |
| 2018-Q1 | 3.8 | 2.9 | 2.3 |
| 2018-Q2 | 3.3 | 2.8 | 2.5 |
| 2018-Q3 | 3.4 | 2.9 | 2.6 |
| 2018-Q4 | 3.4 | 3.2 | 3.1 |
| 2019-Q1 | 3.8 | 3.0 | 2.5 |
| 2019-Q2 | 4.3 | 3.1 | 2.3 |
| 2019-Q3 | 4.0 | 3.2 | 2.5 |
| 2019-Q4 | 5.2 | 3.7 | 2.6 |
graphiqueVariation in prices of second-hand dwellings in France over a year
- Scope: France (excluding Mayotte).
- Sources: Insee, ADSN-BIEN-Grand Paris notaries, French notaries, Perval society.
tableauVariation in prices of second-hand dwellings in France
| Change in (%) | ||||||
|---|---|---|---|---|---|---|
| 3 months (S.A.) | 12 months | |||||
| 2019 Q2 | 2019 Q3(sd) | 2019 Q4(p) | 2019 Q2 | 2019 Q3(sd) | 2019 Q4(p) | |
| France | 0.7 | 1.0 | 1.3 | 3.1 | 3.2 | 3.7 |
| Flats | 1.2 | 0.9 | 1.8 | 4.3 | 4.0 | 5.2 |
| Houses | 0.4 | 1.0 | 1.0 | 2.3 | 2.5 | 2.6 |
- (p): provisional; (sd): semi-definitive
- Scope: France (excluding Mayotte)
- Sources : Insee, ADSN – BIEN – Grand Paris notaries, French notaries, Perval society
Prices of second-hand dwellings In Île-de-France stayed dynamic
In Q4 2019, prices of second-hand dwellings in Île-de-France were increasing more quickly than the previous quarters: +1.5% compared to Q3 2019, after +1.0% and +0.8%.
Year on year, prices were still increasing at a sustained pace: +3.9% between Q4 2018 and Q4 2019, after +3.6% the two quarters before. This increase stayed mainly driven by flats’ prices, which increased by +5.6% over the year, while houses’ prices increased by +0.4%. In particular, in Paris, flats’ prices rose by +6.6% year on year in the fourth quarter, after +6.2% in the third quarter and +6.3% in the second. Excluding Paris, the annual rise in Île-de-France was +2.6% in Q4 2019.
In provincial France, the rise in prices of second-hand dwellings intensified
In Q4 2019, prices of second-hand dwelling in provincial France kept increasing at a sustained pace: +1.2%, after +1.0% and +0.7%.
Over the year, the rise in prices intensified. It was even more important (+1 point) than the annual rise in Île-de-France excluding Paris: +3.6% between Q4 2018 and Q4 2019, after +3.0% and +2.9%. Uniformly to what was observed in Île-de-France, prices of flats were more dynamic (+4.9% y-o-y), even though prices of houses were also rising steadily (+3.1%).
tableauSecond-hand dwellings price index in metropolitan France
| Province - flats | Province - houses | Île-de-France - flats | Île-de-France - houses | |
|---|---|---|---|---|
| 2000-Q1 | 45.7 | 53.1 | 38.4 | 52.2 |
| 2000-Q2 | 46.4 | 54.0 | 39.4 | 52.9 |
| 2000-Q3 | 47.3 | 55.2 | 40.3 | 54.1 |
| 2000-Q4 | 47.8 | 56.1 | 40.9 | 54.8 |
| 2001-Q1 | 48.9 | 57.3 | 41.9 | 55.8 |
| 2001-Q2 | 50.0 | 58.6 | 42.5 | 57.5 |
| 2001-Q3 | 50.5 | 59.6 | 43.5 | 58.0 |
| 2001-Q4 | 51.8 | 60.7 | 44.2 | 58.5 |
| 2002-Q1 | 52.8 | 62.0 | 44.8 | 58.8 |
| 2002-Q2 | 54.3 | 63.4 | 46.1 | 60.1 |
| 2002-Q3 | 56.2 | 65.2 | 47.4 | 61.4 |
| 2002-Q4 | 58.0 | 67.0 | 48.8 | 62.2 |
| 2003-Q1 | 59.7 | 68.5 | 50.3 | 63.5 |
| 2003-Q2 | 62.0 | 70.4 | 51.9 | 65.0 |
| 2003-Q3 | 64.4 | 72.3 | 53.3 | 66.8 |
| 2003-Q4 | 66.6 | 74.6 | 55.1 | 69.7 |
| 2004-Q1 | 70.3 | 77.1 | 57.2 | 72.0 |
| 2004-Q2 | 73.0 | 79.5 | 59.4 | 74.1 |
| 2004-Q3 | 76.2 | 82.2 | 61.4 | 77.0 |
| 2004-Q4 | 79.5 | 85.3 | 63.8 | 79.4 |
| 2005-Q1 | 82.5 | 88.4 | 66.2 | 82.1 |
| 2005-Q2 | 86.1 | 91.2 | 68.6 | 85.4 |
| 2005-Q3 | 89.0 | 94.3 | 71.5 | 88.4 |
| 2005-Q4 | 92.1 | 96.8 | 73.5 | 91.8 |
| 2006-Q1 | 95.3 | 99.5 | 75.8 | 95.0 |
| 2006-Q2 | 97.6 | 101.9 | 78.0 | 97.5 |
| 2006-Q3 | 100.0 | 103.8 | 79.5 | 99.5 |
| 2006-Q4 | 101.9 | 105.9 | 81.0 | 100.7 |
| 2007-Q1 | 102.7 | 107.2 | 82.6 | 103.5 |
| 2007-Q2 | 103.6 | 108.6 | 84.0 | 104.5 |
| 2007-Q3 | 104.8 | 109.6 | 85.4 | 105.0 |
| 2007-Q4 | 106.3 | 110.9 | 87.6 | 106.3 |
| 2008-Q1 | 106.7 | 111.3 | 88.4 | 105.9 |
| 2008-Q2 | 106.4 | 110.3 | 89.2 | 105.9 |
| 2008-Q3 | 104.8 | 108.9 | 89.0 | 104.4 |
| 2008-Q4 | 102.3 | 105.2 | 87.6 | 101.0 |
| 2009-Q1 | 99.5 | 101.9 | 84.7 | 95.8 |
| 2009-Q2 | 98.0 | 100.0 | 82.3 | 92.8 |
| 2009-Q3 | 98.3 | 99.9 | 82.7 | 93.2 |
| 2009-Q4 | 99.3 | 100.9 | 84.1 | 93.8 |
| 2010-Q1 | 101.0 | 102.4 | 86.8 | 97.2 |
| 2010-Q2 | 102.4 | 103.6 | 89.4 | 98.8 |
| 2010-Q3 | 103.9 | 104.7 | 92.0 | 100.0 |
| 2010-Q4 | 105.4 | 106.4 | 95.6 | 102.0 |
| 2011-Q1 | 106.1 | 107.2 | 99.2 | 103.8 |
| 2011-Q2 | 107.2 | 108.1 | 103.4 | 105.7 |
| 2011-Q3 | 108.0 | 108.4 | 105.0 | 107.0 |
| 2011-Q4 | 108.0 | 107.7 | 105.5 | 107.1 |
| 2012-Q1 | 107.8 | 107.1 | 105.1 | 106.9 |
| 2012-Q2 | 107.2 | 106.5 | 105.2 | 106.2 |
| 2012-Q3 | 106.1 | 105.9 | 105.2 | 105.0 |
| 2012-Q4 | 105.8 | 104.9 | 104.7 | 105.2 |
| 2013-Q1 | 105.0 | 104.4 | 104.6 | 104.9 |
| 2013-Q2 | 104.3 | 103.6 | 104.2 | 104.5 |
| 2013-Q3 | 104.1 | 102.7 | 103.5 | 103.4 |
| 2013-Q4 | 104.0 | 102.8 | 102.9 | 103.3 |
| 2014-Q1 | 103.6 | 102.2 | 103.0 | 102.2 |
| 2014-Q2 | 103.2 | 102.4 | 102.6 | 101.6 |
| 2014-Q3 | 102.2 | 101.7 | 101.5 | 101.6 |
| 2014-Q4 | 100.9 | 100.2 | 101.2 | 100.3 |
| 2015-Q1 | 100.6 | 100.0 | 100.3 | 100.0 |
| 2015-Q2 | 99.9 | 99.9 | 99.8 | 99.7 |
| 2015-Q3 | 99.9 | 100.0 | 99.9 | 100.0 |
| 2015-Q4 | 99.8 | 100.4 | 100.1 | 99.9 |
| 2016-Q1 | 99.6 | 100.9 | 100.4 | 100.5 |
| 2016-Q2 | 99.5 | 100.6 | 101.4 | 100.9 |
| 2016-Q3 | 99.6 | 101.6 | 102.2 | 101.3 |
| 2016-Q4 | 100.2 | 101.7 | 103.0 | 101.6 |
| 2017-Q1 | 101.6 | 103.0 | 104.5 | 102.5 |
| 2017-Q2 | 102.3 | 103.3 | 106.1 | 103.1 |
| 2017-Q3 | 103.1 | 104.0 | 108.0 | 103.8 |
| 2017-Q4 | 103.3 | 104.2 | 108.8 | 104.4 |
| 2018-Q1 | 104.2 | 105.4 | 109.8 | 104.8 |
| 2018-Q2 | 104.4 | 106.0 | 111.2 | 105.6 |
| 2018-Q3 | 105.8 | 106.8 | 112.5 | 106.1 |
| 2018-Q4 | 105.9 | 107.7 | 113.8 | 107.7 |
| 2019-Q1 | 107.3 | 108.1 | 115.1 | 107.1 |
| 2019-Q2 | 108.3 | 108.7 | 116.7 | 106.6 |
| 2019-Q3 | 109.3 | 109.8 | 117.8 | 107.5 |
| 2019-Q4 | 111.0 | 111.0 | 120.2 | 108.1 |
graphiqueSecond-hand dwellings price index in metropolitan France
- Scope: France métropolitaine.
- Sources: Insee, ADSN-BIEN-Grand Paris notaries, French notaries, Perval society.
tableauVariation in prices of second-hand dwellings in metropolitan France
| Change in (%) | ||||||
|---|---|---|---|---|---|---|
| 3 months (S.A) | 12 months | |||||
| 2019 Q2 | 2019 Q3(sd) | 2019 Q4(p) | 2019 Q2 | 2019 Q3(sd) | 2019 Q4(p) | |
| Metropolitan France | 0.7 | 1.0 | 1.3 | 3.1 | 3.2 | 3.7 |
| Île-de-France | 0.8 | 1.0 | 1.5 | 3.6 | 3.6 | 3.9 |
| Provincial France | 0.7 | 1.0 | 1.2 | 2.9 | 3.0 | 3.6 |
| - Auvergne-Rhône-Alpes | 0.4 | 1.4 | ** | 3.9 | 4.1 | ** |
| - Hauts-de-France | 0.5 | 1.3 | ** | 2.0 | 2.4 | ** |
| - Provence-Alpes-Côte d'Azur | 1.0 | 0.4 | ** | 2.2 | 1.7 | ** |
| Flats | 1.2 | 0.9 | 1.8 | 4.3 | 4.0 | 5.2 |
| Île-de-France | 1.4 | 1.0 | 2.0 | 4.9 | 4.7 | 5.6 |
| - Paris | 1.7 | 1.1 | 2.1 | 6.3 | 6.2 | 6.6 |
| - Immediate suburbs | 1.2 | 1.2 | 1.8 | 4.6 | 4.5 | 5.3 |
| - Outer suburbs | 0.9 | 0.1 | 2.1 | 1.5 | 0.9 | 3.2 |
| Provincial France | 1.0 | 0.9 | 1.6 | 3.7 | 3.4 | 4.9 |
| - Conurbation > 10 000 inhabitants | 1.0 | 0.9 | ** | 3.9 | 3.5 | ** |
| * Central town | 1.3 | 0.9 | ** | 4.4 | 3.8 | ** |
| * Suburb | 0.6 | 0.9 | ** | 3.2 | 3.1 | ** |
| - Conurbation < 10 000 inhabitants | 0.7 | 0.5 | ** | 2.1 | 2.1 | ** |
| - Auvergne-Rhône-Alpes | 1.6 | 1.5 | ** | 5.1 | 4.8 | ** |
| * Lyon | 3.3 | 2.1 | ** | 11.4 | 10.0 | ** |
| - Hauts-de-France | 0.1 | 1.2 | ** | 1.8 | 2.4 | ** |
| - Provence-Alpes-Côte d'Azur | 0.5 | -0.3 | ** | 2.7 | 1.6 | ** |
| * Marseille | 0.8 | 2.0 | ** | 2.8 | 1.7 | ** |
| Houses | 0.4 | 1.0 | 1.0 | 2.3 | 2.5 | 2.6 |
| Île-de-France | -0.5 | 0.9 | 0.5 | 1.0 | 1.3 | 0.4 |
| - Immediate suburbs | -0.9 | 0.9 | 0.4 | 2.1 | 2.0 | 0.3 |
| - Outer suburbs | -0.3 | 0.9 | 0.6 | 0.4 | 0.9 | 0.4 |
| Provincial France | 0.6 | 1.0 | 1.1 | 2.5 | 2.8 | 3.1 |
| - Auvergne-Rhône-Alpes | -0.6 | 1.4 | ** | 2.8 | 3.5 | ** |
| - Hauts-de-France | 0.6 | 1.3 | ** | 2.0 | 2.4 | ** |
| * Conurbation of Lille | 0.8 | -0.3 | ** | 3.8 | 2.4 | ** |
| - Provence-Alpes-Côte d'Azur | 1.6 | 1.1 | ** | 1.7 | 1.8 | ** |
- ** index released on 6th of April 2020
- Additional data (for example by department in Île-de-France) are available on the web page of the indicator
- (p): provisional ; (sd): semi-definitive
- Scope: Metropolitan France
- Sources : Insee. ADSN – BIEN – Grand Paris notaries. French notaries. Perval society
The annual number of transactions were still increasing
In Q4 2019, the annual number of transactions were still increasing: in December, it reached 1,068,000 on a yearly basis. This was higher than the one recorded one quarter earlier (1,041,000 at the end of September) and than the one recorded one year earlier (965,000). Compared to the stock of available dwellings which increases by around 1% a year, the proportion of transactions was, since the beginning of 2019, higher to the high level observed in the early 2000.
tableauVolume of transactions of second-hand dwellings over the last 12 months
| Volume of transactions of second-hand dwellings over the last 12 months | |
|---|---|
| 2000-Q1 | 755 |
| 2000-Q2 | 768 |
| 2000-Q3 | 780 |
| 2000-Q4 | 793 |
| 2001-Q1 | 785 |
| 2001-Q2 | 789 |
| 2001-Q3 | 791 |
| 2001-Q4 | 784 |
| 2002-Q1 | 793 |
| 2002-Q2 | 799 |
| 2002-Q3 | 802 |
| 2002-Q4 | 811 |
| 2003-Q1 | 797 |
| 2003-Q2 | 793 |
| 2003-Q3 | 805 |
| 2003-Q4 | 813 |
| 2004-Q1 | 823 |
| 2004-Q2 | 835 |
| 2004-Q3 | 827 |
| 2004-Q4 | 822 |
| 2005-Q1 | 825 |
| 2005-Q2 | 815 |
| 2005-Q3 | 820 |
| 2005-Q4 | 828 |
| 2006-Q1 | 833 |
| 2006-Q2 | 835 |
| 2006-Q3 | 831 |
| 2006-Q4 | 820 |
| 2007-Q1 | 812 |
| 2007-Q2 | 821 |
| 2007-Q3 | 821 |
| 2007-Q4 | 810 |
| 2008-Q1 | 796 |
| 2008-Q2 | 758 |
| 2008-Q3 | 717 |
| 2008-Q4 | 674 |
| 2009-Q1 | 610 |
| 2009-Q2 | 578 |
| 2009-Q3 | 568 |
| 2009-Q4 | 595 |
| 2010-Q1 | 656 |
| 2010-Q2 | 699 |
| 2010-Q3 | 737 |
| 2010-Q4 | 776 |
| 2011-Q1 | 796 |
| 2011-Q2 | 807 |
| 2011-Q3 | 821 |
| 2011-Q4 | 801 |
| 2012-Q1 | 816 |
| 2012-Q2 | 781 |
| 2012-Q3 | 734 |
| 2012-Q4 | 708 |
| 2013-Q1 | 661 |
| 2013-Q2 | 677 |
| 2013-Q3 | 690 |
| 2013-Q4 | 720 |
| 2014-Q1 | 737 |
| 2014-Q2 | 736 |
| 2014-Q3 | 727 |
| 2014-Q4 | 694 |
| 2015-Q1 | 697 |
| 2015-Q2 | 715 |
| 2015-Q3 | 754 |
| 2015-Q4 | 798 |
| 2016-Q1 | 809 |
| 2016-Q2 | 819 |
| 2016-Q3 | 825 |
| 2016-Q4 | 845 |
| 2017-Q1 | 877 |
| 2017-Q2 | 917 |
| 2017-Q3 | 949 |
| 2017-Q4 | 964 |
| 2018-Q1 | 961 |
| 2018-Q2 | 956 |
| 2018-Q3 | 959 |
| 2018-Q4 | 965 |
| 2019-Q1 | 982 |
| 2019-Q2 | 1011 |
| 2019-Q3 | 1041 |
| 2019-Q4 | 1068 |
graphiqueVolume of transactions of second-hand dwellings over the last 12 months
- Scope: France (excluding Mayotte).
- Sources: CGEDD, based on notarial databases and DGFiP (MEDOC).
Revisions
The second-hand housing price index is revised in order to include observations recorded after the previous publication.
In comparison with the results released on the 6th of January 2020, the change in prices in Q3 2019 in France (excluding Mayotte) was revised upwards by +0,1 points. The overall change in prices in Q3 2019 stood at +1.0% compared to Q2 2019, instead of +0.9% released the 6th of January 2020 and +1.0% estimated on the 28th of November 2019.
For further information
The calculation of indexes is based on the transactions completed during the quarter. The methodology is based on models explaining the price of housing according to its characteristics. The current value of a reference housing stock is estimated thanks to these models. Methodological principles of calculation of indexes may be found in « Les indices Notaires-Insee de prix des logements anciens », Insee Méthodes n° 132 released in June 2019 (in French only).
At the time for publication of this Informations Rapides, around 30 indexes for big cities are not yet available. Between two publications, at the middle-quarter, the Insee Macro-economic database (BDM) and the historical data available on the web page of the index are updated so as to incorporate this information and update the data previously released.
Next data update: 6th April 2020
Next issue: 28th May 2020, 8:45 AM
Pour en savoir plus
The calculation of indexes is based on the transactions completed during the quarter. The methodology is based on models explaining the price of housing according to its characteristics. The current value of a reference housing stock is estimated thanks to these models. Methodological principles of calculation of indexes may be found in « Les indices Notaires-Insee de prix des logements anciens », Insee Méthodes n° 132 released in June 2019 (in French only).
At the time for publication of this Informations Rapides, around 30 indexes for big cities are not yet available. Between two publications, at the middle-quarter, the Insee Macro-economic database (BDM) and the historical data available on the web page of the index are updated so as to incorporate this information and update the data previously released.
Next data update: 6th April 2020
Next issue: 28th May 2020, 8:45 AM
