Italy's house prices down 6.5% on the year. Will it ever end?
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House prices are still falling in Italy, although the decline slowed during the past two quarters. House prices in Italy have been on a declining trend for almost five years. Italy’s house price index fell by 6.54% during the year to Q3 2013, according to Eurostat. When adjusted for inflation, the index actually declined by 7.58%.
Property sales weakened during the third quarter of 2013, with home sales declining by around 6.6% y-o-y, as reported by ANSA. However the decline was less than the previous quarter, with sales declining by 7.7% in Q2 2013, and lower than the 8.3% y-o-y during the first half of the year. In 2013, Nomisma estimates that transactions will be around 407,000, a sharp decline from around 869,000 in 2006.
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