House sales and loans move forward in Spain

Monthly reporting figures

Data out from the two reporting bodies the INE or statistical office and the Notaries in Spain show that mortgage lending and the home sales grew in November.

The pace by which both grew did slow slightly when considering seasonal adjustments and previous months within 2015.

Notary Offices

According to the Notary offices the number of house sales reached 34,918 in November and 25,681 new loan agreements were signed. 

Average price per meter squared declined slightly at € 1.219 after two months of small increases.

Average loan amounts reached € 144.223 up 5.5% on the same month of the previous year.

INE

Data from the INE which looks at contracts actually registered with land registry showed a similar pattern.

Sales of homes was 13.7% up on the previous year with 28,733 sales recorded.

Mortgage lending increased on the same month of last year but dropped back against October of 2015.

Fixed rate mortgage types continued to show a higher share of the overall loan market.

Overall both number of loans and capital lent has steadily increased during 2015 against a low level of transactions in the last few years. 

Resales and new builds

Both sales and mortgages have seen the increases they have against a growing second hand market. Resales are outstripping new build sales by quite someway. New build sales have steadily fallen for the last 19 months.

Read the full article :- Loan levels and house sales in Spain for November