The latest study by Meilleursagents shows that while Paris is, unsurprisingly, on the decline, this is also the case for the municipalities in the top 10 and top 50. Rural areas, which since the coronavirus epidemic have played the role of locomotive of the market, continue to see their prices fall.
The beginning of the year is difficult for the real estate market. In its latest study, Meilleursagents notes that since the beginning of January prices at the national level have fallen by 0.2%. But above all, more surprisingly, all geographic areas are affected by this downturn. A phenomenon that had not been observed since 2014.
“While the capital remains unsurprisingly on a downward trend (-0.4% over the past month), this is now the case for all the municipalities in the Top 10 (-0.4%) as well as those of Top 50 (-0.1%)”, notes MeilleursAgents.
Rural areas which, since the coronavirus epidemic, have played the role of market locomotive, continue to see their prices fall (-0.4%).
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The Nice exception
Nice is an exception with an increase of 0.7% in one month. Marseille, which until then was pulling the market upwards and experiencing spectacular growth (+11.2% in one year), recorded a drop in prices of 0.4% in February. The prize for the biggest drop goes to Lyon and Nantes, which have both seen their prices fall by 1% during the month of February and by more than 2% since the start of the year (-2.4 % in the Rhône prefecture and -2.2% in that of Loire-Atlantique).
Meilleursagents recalls that February normally marks the end of the winter break in terms of price changes and the beginning of spring in real estate. But the fall in the production of mortgage loans might change the situation. According to figures from the Banque de France, the production of home loans has fallen rapidly for six months. Last December, French banks granted 30% less credit compared to December 2021.
The modification of the calculation of the wear rate will give a little breath of fresh air but it will also lead to an increase in the rates which will have a direct consequence on the solvency of households, with budgets revised downwards.