House Prices in Tarn-et-Garonne

Tuesday 03 May 2011

After two morose years, sales and house prices rose on average last year in the Tarn-et-Garonne.

The notaires in the Tarn-et-Garonne (Midi-Pyrenees) confirm the trend that seems to have occurred throughout most of France, which has been a strong increase in sales last year, compared to the low point of 2009.

Sales of older property rose by 38%, older apartments by 26%, and building land by a more modest 8%.

The notaires consider that the resurgence in activity was due to excellent credit conditions, granting increased purchasing power to buyers, as well as two years during which prices went down, thereby permitting a larger number of buyers access to the market.

The increase in sales was also reflected to a lesser extent in prices, which went up by an average of 2.7% for houses (2% for apartments), although the price of building land went down by an average of 2.1% over 2009.

This means that at the end of 2010 the average price of an older house in Tarn-et-Garonne was €154,600.

However, as is normally the case, the picture was not a uniform one across the department.

House prices were highest in Montauban at €184,400, (+8.5%) followed by those in the south of the department €167,700 (+5.75), West Quercy €144,900 (-8%), East Quercy €139,700 (-0.2%), Gascogne €136,700 (+13%) and Garonne €132,900 (+2%).

In terms of 2011, the notaires remained cautious, mainly because of the prospect of an increase in interest rates.