Real estate: what are the prices of old housing in the Occitanie region?

After a strong rise in recent years, the market is marking time. But the price level remains high.

We do not know how to interpret the latest statistics on the price index of old housing, published by the High Council of Notaries (CSN), in collaboration with INSEE. While the rising trend, which has been observed for several years, seems to have stopped, the prices are still hanging at a high level. This is the case for almost all regional departments (the infographic is opposite). Explanations.

The price levels of the old, observed in the second quarter of 2022 by Notaries of France.

The report of the notaries

“In the second quarter of 2022, the increase in the prices of old housing in France continues, although with a slight change”, we explained to CSN. According to the updated data, the increase was 1.4% in one quarter (compared to the first quarter of 2022) and 1.7% compared to the previous two quarters. “More than a year, the price increase continues: + 6.8% in the second quarter, after + 7.3% in the first quarter and + 7.1% in the fourth quarter of 2021”, specified the note from CSN.

However, growth in the second quarter of 2022 remains weaker than in previous quarters. Should we conclude that the decline in rising prices signals a fall in the near future? “The third quarter of 2022 will give us a clearer view of what the 2022 market will be,” said David Ambrosiano, president of CSN.

Observe real estate agents

“It is true that this is very evident in Covid, but the problem now is the lack of products for sale”, comments Hélène Fraysse, president of the group of real estate professionals Syneos, based in Saint-Jean-de-Védas , in Hérault. He believes that prices “have not fallen, we would rather say they are stagnating”.

For Bertrand Malquier, president of Fnaim Languedoc Roussillon, “we are now in a double market: an urban and a littoral”. The first is the primary residence, with buyers under the limits of bank loans “. The second is that of the second home: “where there are very few bank demands, a bonus purchase without the logic of profit “. And “even if there is a crisis in the next years, prices will not fall, as long as the demand remains high”.

How to interpret the price level?

What is certain, and we have seen it, is that the increase is not very marked. “We have reached a price threshold, we are no longer at + 7%, + 8% as we observed in recent years, but at + 3%, + 4%”, said Thomas Bree, President of Fnaim Hérault. “The Gard real estate market remains dynamic during the rolling twelve months. We seem to be heading towards stable prices and sales volumes for this last quarter”, added Sarah Galibert-Martin, his Gard counterpart . “We are still in a market where prices remain good, where they are very expensive”, recognized Me Pierre Devine, notary of Roquemaure, in Gard.

How to reason if you are a seller?

The evolution of the old market may push the sellers to review their positions. “We are still in a situation where the sellers of goods do not want to lower their prices because they still hope to be successful in the sale. Maybe they will do it next year”, said Me Pierre Devine. “This is not what we are observing now. But when, in 6 months, the sellers realize that they cannot sell, they will undoubtedly decide to change their ambitions to the bottom” , added Hélène Fraysse. “With the rise in interest rates, there is a fear of seeing them rise again. Added to inflation, this gives the reasoning that pushes future buyers to end their purchase “, added Thomas Bree.

Is the context favorable?

For buyers, the clouds are gathering. We are “in a context that remains marked by international uncertainties, inflation and the significant reduction in the provision of real estate loans due to the particular rate of wear and tear that has become a decoration from nominal rates”, remembers David Ambrosiano, the president. in CSN. “It all depends on what you are looking for as a product. If you want to buy a T3, T4 type residence, the current situation is tense”, explains Thomas Bree.

In fact, “many small places are coming back for sale because with rental limits, like Montpellier, they are no longer a profitable investment. The problem is that these are not the types of housing that are sought after people. people”. This thus creates a “market crunch”. This tension can be seen in a sharp decrease in the number of goods for sale. “Apparently we have a shortage of goods at the end of Covid. Ads have fallen by 50% compared to the same period in 2021 in the department”, said Me Pierre Devine. “The sales volume fell by at least 40%”, according to Hélène Fraysse.

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