INE and the Notaries reports
Data published by the INE in Spain and the Notaries continues to support the veiw that a slow but sustained recovery of the housing market is taking place in Spain.
House sales July
Julys house sales figures from the INE taken from land registry shows that sales were up 13.9% against July of last year.
Julys figures when compared to Junes were also up 7% so up month on month and year on year.
Private sales lead the way
The recovery is being pushed ahead by resales with new build figures remaining in the doldrums. New build sales continue to be down on the previous years and losing momentum month on month. This is partly due to pricing and the more positive manner in whuch private sellers are willing to negotiate.
June loan signings
The Notaries who are reporting against June but with figures taken from signing rather than land resgitry show that house sales were up 19.4%.
Mortgage lending was up 18.85 with 16,002 new loans signed in June and average loan amount up 4.8% at €121. 445.
Prices however dropped in June by 0.3% bringing the total decline in house prices sonce 2007 to 33.6% as an average across Spain. With Spanish Banks alowing an increase in loan amounts the suggestion is therefore that the average loan to value is increasing.
Read the full article:- Sale of homes and lending data Spain
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