In Italy there are still negative signs from the housing market. In the second quarter of this year, in fact, as communicated by the land, the total trading volume was 361,844 transactions (NTN), a decrease of 12.3% compared to Q2 2008. The Quarterly, produced by the Center of the housing market, confirming, therefore, the negative trend already reported from the 2nd half of 2006, after a long period of growth more or less continuous.
In detail, the residential sector with 163,894 marks Trading value (- 12.9%) which reflects the performance of all other sectors, the tertiary sector with 4347 transactions, records the lowest decrease (- 5.4%); the commercial sector with 10,209 NTN is equal to - 14.5%, the manufacturing sector with 3170 NTN is the one with the highest decrease (- 20.3%). The market for the residential sector undergoes a major decrease in the Center (-14.4%), which is more limited in the North (-12.7%) and South (-12.3%).
The note further confirms, as already highlighted in previous Quarterly, that the housing market downturn is more marked in non-capital municipalities (-14.6%), while the contraction in the capitals is slightly lower (-8.9 %). Even for the main 8 cities and related provinces confirms this trend, with a sharp fall in trading especially in smaller municipalities (-13.9% on average) is considerably smaller in major cities (-5.7%).
As for residential property prices in the 1st half of 2009 was a slight decline in the national average, per unit of area. The average price drops to € 1578 / m², marking a 0.5% compared to the 2nd half of 2008.
The price trend reflects the sharp reduction of trading. It shows, however, the stability of house prices to low values. Indeed, even if for the first time, saw a change in national average negative. In the 1st half of 2009, the rate of change is only -0.3% for the index of consumer prices was also negative, and therefore house prices suffered a decline in real terms lower than those expressed in terms nominal.
In detail, the residential sector with 163,894 marks Trading value (- 12.9%) which reflects the performance of all other sectors, the tertiary sector with 4347 transactions, records the lowest decrease (- 5.4%); the commercial sector with 10,209 NTN is equal to - 14.5%, the manufacturing sector with 3170 NTN is the one with the highest decrease (- 20.3%). The market for the residential sector undergoes a major decrease in the Center (-14.4%), which is more limited in the North (-12.7%) and South (-12.3%).
The note further confirms, as already highlighted in previous Quarterly, that the housing market downturn is more marked in non-capital municipalities (-14.6%), while the contraction in the capitals is slightly lower (-8.9 %). Even for the main 8 cities and related provinces confirms this trend, with a sharp fall in trading especially in smaller municipalities (-13.9% on average) is considerably smaller in major cities (-5.7%).
As for residential property prices in the 1st half of 2009 was a slight decline in the national average, per unit of area. The average price drops to € 1578 / m², marking a 0.5% compared to the 2nd half of 2008.
The price trend reflects the sharp reduction of trading. It shows, however, the stability of house prices to low values. Indeed, even if for the first time, saw a change in national average negative. In the 1st half of 2009, the rate of change is only -0.3% for the index of consumer prices was also negative, and therefore house prices suffered a decline in real terms lower than those expressed in terms nominal.
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