August Imie Index 2012

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House prices continued to fall in August

Prices along the Mediterranean Coast have now fallen by an average of 40% from their highest levels. The Major Cities segment is experiencing greater downward pressure on prices.

The General IMIE index recorded a year-on-year decline of 11.6%, slightly higher than the fall recorded in July, ending the month at 1545 points. The cumulative decline in house prices since the market peak in December 2007 is 32.4%.

The breakdown by segment shows that the “Mediterranean Coast” recorded the highest year-on-year fall in August, of 14.7%, followed by “Capitals and Major Cities”, which saw a 13.4% decline in value compared with the same month the year before.

General Index Evolution:

The fall experienced in the “Balearic and Canary Islands” was slightly below the average, at 11.5%. An even smaller decline was recorded by “Metropolitan Areas”, where the year-on-year fall stood at 10.4%, and lastly “Other Municipalities”, with a fall of 8.8%, even lower than the figure recorded in July.

Relative Year-on-Year Evolution:

With regards to the cumulative falls by segment since the top of the market, the “Mediterranean Coast” is once again the biggest faller, with a decline of 39.5%; followed by “Capitals and Major Cities” with 35.6%, “Metropolitan Areas” with 31.4%, the “Balearic and Canary Islands” with 30.2% and “Other Municipalities”, which refers to those not included in other categories, with 27.4%.

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