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Departmental House Prices in France 2017

There appears to have been some spectacular movements in house prices last year, according to the notaires, if the figures are to be believed.

The Notaires de France have recently published their figures for the movement in house prices in 2017 for each department of France.

On a national basis they report that house prices outside of the Ile-de-France rose by an average of 2.4%. In the Ile-de-France they rose by an average of 3.3%.

That is broadly within a range reported earlier in the year from the major estate agent chains, with figures of 3.2% from Laforet, to 1.20% from Century 21. The national association of estate agents (FNAIM) reported the largest upward movement of 4.20%.

As usual, however, scratch beneath the surface and all is not as it seems, for the estate agents provided scant information at a local level, an omission corrected by the notaires whose departmental figures show a hugely contrasting picture.

Thus, in around one-third of departments prices fell in the year.

Moreover, widen the scan to a 5-year period and prices are lower at the end of 2017 than they were in 2012 in no less than around half of all departments.

Neither is this a trend that occurred merely north of the Loire; prices are also lower in several popular departments of the south. In Provence-Alpes-Côte d'Azur prices have fallen over the 5-year period in five out of the six departments in the region. Similarly, in Occitanie (formerly Languedoc-Roussillon and Midi-Pyrénées) prices have fallen in nine of the thirteen departments.

The figures are before the impact of inflation has been factored in, so they are less than the 'real' fall in prices.

The table below spells it out, showing the percentage movement in prices in 2017 between Q4/2016 and Q4/2017. It also shows the percentage price change for the period 2012-17, and the average house price at the end of 2017.

The figures come with the usual health warning that they are based, for the most part, on transactions that have taken place in the main urban areas in each department and do not necessarily reflect what is happening to rural properties, a difficult market to assess due to the diversity of the housing stock and the lower number of sales.

In addition, at this level the figures take no account of any structural changes that may have taken place in the nature of the sales, notably the surface area of properties sold. Thus, if buyers purchased larger, more expensive homes it would increase the average selling price, whilst if there was an increase in the number of sales of smaller properties it would reduce the average sales price. That is why we have included the 5-year trend, in the hope that any such changes will have smoothed themselves out over a longer period.

Only within the Ile-de-France have the notaires adjusted their figures to take account of such structural changes.

Accordingly, some of the double digit movements in house prices that are being reported for last year need to be treated with particular caution.

The cheapest properties in France can be found in Nièvre (Burgundy) where house prices average €70,600, whilst the most expensive department outside of the Ile-de-France remains the Alpes-Maritimes (PACA) at €414,600, a price difference of nearly 600%!

In recent months there are indications that some of the heat is coming out of the market (lower mortgage demands, lower sales, prices stable/slipping) and that sales and price increases in 2018 are likely to below those for 2017.

House Prices 2017
Region/Dept
% Change 2017
Average % Change 2012-17
Average Price 2017
AUVERGNE-RHONE-ALPES
Ain +9.9% +2.6%
€195,000
Allier +14.6%+5.0% €97,500
Ardèche +1.3%+6.7% €160,000
Cantal -12.0% -4.6% €89,300
Drôme +7.0%+5.6% €198,000
Isère +3.9%+6.9% €218,500
Haute-Loire +5.6%+2.1% €116,200
Loire +5.6%-1.6% €158,900
Puy-de-Dôme-3.6%+2.0%€157,000
Rhône -3.4%+4.7% €281,000
Haute-Savoie +6.6%+7.0% €366,500
Savoie+5.1%+10.1% €228,000
BRITTANY
Côte d'Amour-3.4%-3.4% €120,800
Finistère+3.6%+1.4% €145,000
IIe-et-Vilaine -1.0%-4.8% €175,000
Morbihan
-9.2%-3.7% €157,000
BOURGOGNE FRANCHE-COMTE
Belfort
-3.9%-4.5% €158,200
Côte-d'Or+5.2%+13.3% €170,000
Doubs
+12.6%+0.7% €170,000
Haute-Saône+5.6%+6.0%€119,400
Jura
-1.5%-4.5% €133,000
Nièvre-11.8%-12.8% €70,600
Saône-et-Loire-2.5%-2.5% €116,400
Yonne
-7.1%-9.5% €105,000
CENTRE-VAL DE LOIRE
Cher
-2.8%-5.8% €94,300
Eure-et-Loir
-1.5%-6.0% €141,000
Indre
+2.6%-14.9%€80,000
Indre-et-Loire
-1.7%+0.6%€170,000
Loir-et-Cher
-4.2%-4.2% €115,000
Loiret
-1.2%-1.8% €149,300
GRAND EST
Ardennes
-0.5%-7.5% €110,000
Aube
+0.2%-9.2%€125,300
Haute-Marne
+7.1%-8.1%€80,200
Marne
+2.4%-1.7%€169,000
Meurthe-et-Moselle
+7.1%+5.0%€152,300
Meuse
+7.5%+8.0%
€95,000
Moselle
+6.2%+2.9%
€160,500
Bas-Rhin
+6.3%+2.8% €213,700
Haut-Rhin
+1.5%+4.2% €197,900
Vosges
-7.5%-8.7%€105,000
HAUTS DE FRANCE
Aisne -1.8%+0.9%€110,000
Nord +4.5%+1.7% €150,000
Oise +2.8%-2.6% €185,000
Pas-de-Calais+3.2%+4.8%€139,300
Somme -1.9%-1.9% €122,600
ILE-DE-FRANCE*
Paris+8.6%
+9.5%€9,040m2
Seine-Saint-Denis+4.3%+0.8% €3,290m2
Haute-de-Seine+5.2%+3.0% €5,530m2
Val-et-Marne +4.0%+1.5% €4,330m2
Val d'Oise +0.6%-5.6% €2,660m2
Yvelines+2.5%-3.7% €3,760m2
Essonne +0.6%-6.7% €2,580m2
Seine-et-Marne+0.5%
+5.4% €2,590m2
NOUVELLE-AQUITAINE
Charente -1.0%-4.5% €105,000
Charente-Maritime +9.0%+7.1% €182,000
Corrèze +11.1%-13.4% €100,000
Creuse +13.3%
-8.1% €68,000
Deux-Sèvres -5.1%-14.6% €102,500
Dordogne +6.8% +4.2% €125,000
Gironde +5.4%+15.1% €236,000
Landes +8.0%+15.2% €190,000
Lot-et-Garonne +13.3%+4.0% €130,000
Pyrénées-Atlantiques-4.2%+3.0% €208,000
Haute-Vienne -5.3%+2.1% €111,800
Vienne
-3.8%-3.8% €125,000
OCCITANIE
Ariège +7.9%+4.6%
€104,600
Aude -4.2%-4.0%€134,400
Aveyron +4.5%
+6.1% €115,000
Gard +4.3%-0.9% €195,000
Gers -18.7%
-25.8%€118,700
Haute-Garonne +4.5%+1.1% €233,600
Hautes-Pyrénées +8.7%-6.7%
€140,000
Hérault +6.8%-1.8% €214,700
Lot-4.4%-7.9%€129,000
Lozère -20.7%
-14.7% €86,400
Pyrénées-Orientales+1.8%-3.6% €173,000
Tarn -0.7%-0.7% €129,100
Tarn-et-Garonne +3.9%+7.7% €155,000
NORMANDY
Calvados
0.0%-2.7% €165,000
Manche
-4.6%-4.6% €124,000
Orne
-6.8%-6.8% €91,300
Eure
+1.4%-4.9% €152,200
Seine-Maritime
+4.8%+2.8% €159,400
PAYS DE LA LOIRE
Loire-Atlantique
+2.0%+1.5% €200,000
Maine-et-Loire
-1.8%-3.4% €140,000
Mayenne
-6.1%-6.1%€108,000
Sarthe
+3.8%-3.8% €124,500
Vendée+3.6%+3.6% €150,300
PROVENCE-ALPES-COTE D'AZUR
Alpes-de-Haute-Provence
+3.3%-0.3% €173,100
Alpes-Maritimes-2.4%-4.9% €414,600
Bouches-du-Rhône
+3.4%+4.9% €300,000
Hautes-Alpes
+5.3%-9.1% €200,000
Var+0.1%-2.2% €312,900
Vaucluse
+5.5%-2.4% €221,600
*Apartments for Ile-de-France

Source: Notaires de France

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This article was featured in our Newsletter dated 08/05/2018





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