According to an article posted in Property Wire, the prospect of the Spanish house market in 2016 will continue to recover but the latest data shows it is still a rollercoaster and growth very much depends on location.
According to the latest figures from appraisal company Tinsa prices are still increasing with its latest index up by 1.9% in November year on year.
The Tinsa index shows, however, that the recovery is broad based as house prices rose in all the areas covered. Prices in Barcelona and Madrid were up by 3%, coastal areas (including Costa Del Sol) popular with overseas buyers saw price growth of 1.4% and the Balearic and Canary Islands 0.2%.
But the recovery still has some way to go as since the peak of the market house prices are still down 41.3% in general, and 48.2% on the coast.
House prices, excluding new builds, actually fell by 1% in November according to the Idealists price index and are down 2.1% year on year.
However the index shows that five region saw monthly price rises, albeit marginal. The Balearic Island saw price growth of 0.9% followed by the Canary Islands up 0.5%, Andalucía up 0.3%, Navarra and Castilla-La Mancha both up 0.1%.