HOUSE PRICES 4TH CONSECUTIVE MONTHLY RISE - OFFICIAL STATS

Interesting and quite positive piece on anyone who wonders if they have made the right decision to complete.......

House sales in Spain recovered in April by 16.7% compared to last year at the same time with the resale property market particularly buoyant, up 26.6%, while new property sales were 10% higher.

It was the 4th consecutive monthly rise in house sales in Spain, according the National Statistics Institute.

It had been thought that there was a rush to buy property ahead of the IVA/VAT increase which comes into effect on July 1 (resale property is not affected by the increase).

The number of properties sold over the month was 34,326, some 3,000 fewer on the number seen in March. 57.5% of the sales were in Andalucía, Cataluña, Madrid and the Valencia region, with most transactions being completed in Andalucía, at 6,586.

This recovery comes on the back of a 24.9% fall in house sales in April compared to 2008

Read more: http://www.typicallyspanish.com/news/publish/article_26391.shtml#ixzz0qrTcxTSt
 

DO YOU NOT THINK THE INCREASE IS DUE TO THE REPOSSESSIONS OF PROPERTIES AND THE FAILURE OF PEOPLE NOT BEING ABLE TO PROCEED WITH THEIR PURCHASES HAS LED TO HOMES GOING FOR A SONG  AT OTHER PEOPLES EXPENCE.

It we relate it to the UK house price index which is calculated on the price paid and registered at the land registery I believe the article shows the market is returning and has bottomed out, just like the UK.