Notary report for April
Data published yesterday by the Notaries in Spain suggested house sales increased in April but house prices fell back.
Data published monthly by the Notary Offices gives a more real time overveiw of what is happening in Spain as unlike the Statistical office who report from land registry. Mortgage and home completions take up to 3 months to make their way to Land Registry data so Aprils reporting could reflect what happened in January, February and March.
House sales
House sales climbed by 1.9% in the month of April according to those signed at Notary. Price per square meter however fell back by 3.9% to € 1,188 suggesting that a complete stabilization of house prices has not yet happened. According to the Notaries prices have now fallen 37% since the housing crisis and banking crisis started.
New lending
New loans were up in the month by 12.3% amd over 12k new loans were constituted within the month.
Average loan sizes were up 9.2% at € 122.119 reflecting a more positive risk approach by Spanish Banks.
Mortgages in Spain need a boost in numbers to prevent the ongoing net outflow of loans to the Spanish Banks books. In an attempt to grow new and profitable business lenders have been much more aggresive in the market place and higher numbers of house sales if this can be sustained will help.
Read the full article :-Spanish Notaries Monthly Housing Report
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