Half-Year French Housing Market
According to FNAIM, although sales have increased over the past year, activity has more recently slowed, which they attribute largely to the increase in interest rates and the economic crisis.
The graphic below shows the average percentage movement in sales over the past 12 months for each department.
As can be seen, the highest level of activity has been in the central, south-west of the country, where sales are up between 20% to 30% over the previous 12 months. Only in the Lozère department has there been a fall in sales.
House prices have risen over a year by +9.2%, although in Paris prices have fallen by -2.1%. Highest increases have been outside of the main metropolitan areas, confirming the trend of the past year.
The graphic below shows the average percentage movement in prices in each department in France. The highest price increases have been along the Atlantic coast, where prices have risen on average by +10%. In no department has there been a fall in prices, save for Paris.
The more detailed table below shows the average price per m2 for apartments and houses in each department, together with the movement in prices over 3 months, 1 year and 5 years. In addition, it shows the number of sales in each department for the past year, and the movement over the past 12 months.
The price of houses outside of Paris ranges from €8,526/m2 in Hauts-de-Seine (Ile-de-France) at the top end, down to €890/m2 in the Creuse department.
Perhaps most interesting to observe are the figures in the movement of prices over the past 5 years, where there are several departments in which prices have risen by 40+%, mostly in Brittany.
The 40+% departments are Finistère (+47.5%), Morbihan (+45%), Côtes d'Armor (43.5%), Charente Maritime (+41.6%, ) Landes (+41.4%), Ille-et-Vilaine (+41.(%), and Main-et-Loire (+40.8%). The Pyrénées-Atlantiques and the Vendée both come close at 39.9% and 38.8% respectively.
The department with the lowest increase in prices over the past 5 years is Indre (Centre-Val de Loire) at +10.3% closely followed by Nièvre (Burgundy) at +11.4%.
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