(Finance) – In the third quarter of 2023, thePrice Index of Houses Purchased by Families for Residential or Investment Purposes (IPAB) remains stable compared to the previous quarter, but increases by 1.8% compared to the same period in 2022, a pace three times higher than the +0.6% recorded in the second quarter of 2023. The trend growth of the IPAB is mainly attributable to the prices of new homes which increased by 8.0%, a strong acceleration compared to the previous quarter ( +0.5%). On the other hand, the prices of existing homes rose by 0.5%, recording a slight deceleration compared to the second quarter (+0.7%). This is what emerges from the note Istat.
These trends are recorded in a context of marked reduction in trading volumes (-10.4% the trend change recorded in the third quarter of 2023 by the Revenue Agency’s Real Estate Market Observatory for the residential sector, from -16.0% in the previous quarter). The stability of the IPAB index on a cyclical basis is the synthesis of opposite dynamics between the prices of new homes which increase by 1.6% and those of existing homes which decrease by 0.4% (it was +1.8 % in the second quarter of 2023).
On average, in the first three quarters of 2023, compared to the same period in 2022, house prices increased by 1.2%, with those of new homes recording +4.5% and those of existing homes growing by 0.5%. The acquired rate of change of the IPAB for 2023 is equal to +1.3% (+4.7% for new homes and +0.6% for existing homes).