House Prices Continue to grow in four out of five French Cities
House prices in France continued to grow through July, albeit at a slower rate than previous months. Apartments grew the fastest and the four horsemen of the national property price recovery continued their strong performance.
The latest figures from market observatories Meilleursagents and Seloger show house prices in France continuing their slowing which was observed in June. The summer months often see less activity, and this has proven true again this time around as activity has fallen compared with the beginning of the year.
According to Seloger, annual price growth in existing properties is now at 4.3%; 4.4% for apartments and 4.1% for houses. Paris, Lyon, Strasbourg and Bordeaux continue to show year-growth figures of above 5% (above 10% in the case of Bordeaux), but there has been a marked slow month-to-month with falls seen in several places. One-fifth of cities of over 100,000 people have seen falls in the last three months.
The table below shows the year statistics for existing property prices side-by-side for comparison, and how that has changed since the last market report at the beginning of July. Seloger’s only include apartments, also the case for Meilleursagents in Paris where apartments make up the vast majority of housing stock.
|City||Meilleursagents: year growth (change from last month's figure)||Seloger: year growth (change from last month's figure)|
|Paris||+8.0% (0.0%)||+6.6% (+0.6%)|
|Marseille||+3.5% (+1.0%)||+2.1% (-0.5%)|
|Lyon||+7.8% (+0.3%)||+7.6% (+0.8%)|
|Toulouse||+1.8% (+0.3%)||+3.8% (+0.7%)|
|Nice||+3.8% (-0.2%)||+2.0% (-2.2%)|
|Nantes||+5.3% (-0.9%)||+5.2% (-1.4%)|
|Strasbourg||+7.8% (+1.0%)||+7.7% (-1.2%)|
|Montpellier||-1.1% (0.0%)||+4.6% (+1.2%)|
|Bordeaux||+13.0% (+0.8%)||+10.7% (-0.3%)|
|Lille||+0.7% (-0.5%)||+5.3% (+0.4%)|
A fall in the yearly growth figure from month to month does not mean prices actually fell over the course of the month. Rather, it just means that the market there has not equalled the price growth seen in the same period last year (June to July).
The very fast movers not in the table continue their double-digit, albeit slowed price growth:
- Nimes: +12.2%
- Le Mans: +11.7%
- Besancon: +11.5%
- Tours: +11.1%
Seloger’s nationwide market figures are summarised below. They have observed a margin of negotiation in existing property sales of 3.3% for apartments and 4.9% for houses.
|Existing Property, Advertised Price||Existing Property, Agreed Price||New-builds, Agreed Price|
|All properties, price/m2||€3,409||€3,484||€4,068|
|Houses only, price/m2||€2,950||€3,060||€2,581|
|Apartments only, price/m2||€3,792||€3,837||€4,694|
image: Lyon © Wikicommons