In Paris it is the buyer who has the power

Brokers regret the scarcity of homes for sale in the provinces. On the other hand, in the capital, it is the opposite.

In Paris, buyers are regaining power. In the capital, annual real estate ad volume declined 6% in the last 12 months leading up to the pandemic, notes SeLoger, noting that ad volume has increased 9.2% over the past two years. increase of an average of 4.6% per year. “This increase in stocks of Parisian goods is reflected by a decline in sales prices in the metropolis. While before the health crisis, prices of Parisian stone rose (+10.8% over 1 year), two more confinements later, it is the decline in the price of real estate (-3.2% over 2 years) prevailing in the capital,” specifies SeLoger.

The trend is not the same in the small and especially in the large crown. In the suburbs (Essonne, Val-d’Oise, etc.), the level of available goods is declining much faster than before the pandemic, while sales prices are rising (+8.5% in 2 years). “There are more buyers there for the same property than before the crisis (11% more buyers than homes for sale today against 1 buyer for 1 property before)”.

Revenge of rural towns

And in the provinces it is the sellers who are in control. In medium-sized cities and rural communities, the demand for housing has exploded, the price of their real estate has risen and the available supply has dried up. “According to our research, if the level of real estate advertisements (-0.6%) and sales prices (+2%) in rural towns was stable during the year before the health crisis, post-Covid! stocks (-21% since the beginning of 2020) was thus followed by an increase in sales prices (+11.9% for 2 years) “, specifies SeLoger.

Nevertheless, in some cities the volume of goods for sale is declining sharply. This is the case in Toulouse, where stocks are rebuilding (+6.1% over the last 2 years), where price increases are slowing (+11.7% before the health crisis vs. +4.8% after Covid), but where the market remains tight (demand increased by 11%). “Same observation in Rennes, except that the slowdown in the decline in housing stock for sale (about -20% in the year before the pandemic versus -8.6% per year in the past 2 years) was accompanied by a decrease in tension (there are 2% more buyers than real estate for sale today versus 27% 2 years ago) and a slowdown in the pace of price increases (+15.7% more than 1 year before the crisis versus only + 2.4% for 1 year)”.

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