Property purchases continue at 2015 levels, but average prices slump

House sales across the region for the last three years. Council houses and protected properties not included (Government data)

By David Jackson

House sales continue across the province, but prices remain low and more buyers are taking out finance to complete their purchase.

These are the findings being recorded across the real estate sector after a busy start to the year.

Official statistics agency INE reports that 10 per cent more new mortgages were taken out in January compared to the same period in 2015, although the number of mortgages passed between owners dropped by 33 per cent, falling from 360 transfers in January 2015 to 205 transfers in 2016.

Property sales remained static

In January 2015 a total of 2,614 property sales were recorded in Almería, against 2,643 this January, the last month for which official data has been published.

Economist Maria Luisa Cervantes said: “The simplest explanation is that people are taking advantage of rock bottom interest rates to finance their purchases without touching their capital savings, and negotiating new mortgages with better rates.”

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