They keep going down the prices of Italian houses. According to preliminary estimates by Istat, in the second quarter of 2013 the Ipab index recorded a decrease of 0,6% compared to the previous quarter and by 5,9% on an annual basis. The consecutive cyclical declines thus come to seven, despite their extent – after the -2,2% recorded in the fourth quarter of 2012 – they are decreasing (-1,5% in the first quarter of 2013, -0,6% in the second) . On an annual basis, on the other hand, the decline is the sixth consecutive, but the trend dynamic shows signs of stabilisation.
The decreases in prices of both stocks contribute to the economic downturn new homes (-0,8%, which follows the -1,1% of the previous quarter), both of those existing (-0,6%, after the previous -1,5%). Also the decrease on an annual basis is the synthesis of the decrease in the prices of existing homes (-7,4%) and those of new construction (-2,6%).
The trend decline in house prices is lower than that recorded in the previous two quarters, while the year-on-year decline in new house prices is the second in a row and wider than that of the first quarter (-1,3%).
On average, in the first semester prices decreased by 5,9% on an annual basis, the synthesis of a 1,9% drop in the prices of new homes and a 7,7% drop in existing ones.
