HPI Trends: October 2009 – August 2010
At the start of February 2010, homeowners could be forgiven for wondering how on earth they were going to sell their properties and receive a decent price for them! House prices were low; overall the average price of a property in France was €312,543. This figure was in part raised by sale of properties in such popular areas as the Provence Alpes-Cotes D’Azur region in the south, where property, despite the slump, was still in excess of €861,000.
In March 2010, the average price got slightly higher by 1.30% reaching €321,299. After this gentle increase, prices went up again in May 2010 to €324,663. Prices steadily went up the next three months reaching €331,827 in August, which in comparison with October 2009, are respectively higher by 13.69%.
Since February, prices tend to slowly increase which means that the market is indeed recovering. Now would then be the right time to buy before prices start to pick up again.
According to Sextant French Properties figures, more than 12,500 Sextant properties were up for sale between October 2009 and October 2010 and 22.8% of these properties were sold. One should note that only 19.38% of the 12,500 properties advertised did in-fact change their prices.
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