By João Miguel

Average house price increases 7,8% year-on-year in the 4th quarter

According to National Institute of Statistics (OTHER), the median price of family housing was 1.188 euros per square meter in the fourth quarter of 2020, which corresponds to an increase of 1,7% compared to the previous quarter and 7,8% compared to the same period of 2019.

In a statement, the National Statistics Institute says that in 12 NUTS III (Nomenclature of Territorial Units for Statistical Purposes) there was an acceleration of housing prices higher than that seen in the country (more 0,2 percentage points), specifically in the Algarve (more 2,4 percentage points) and in the Porto Metropolitan Area (more 1,0 percentage points). On the other hand, prices have slowed in thirteen sub-regions, with emphasis on the Autonomous Region of Madeira (less 8,5 percentage points) and the Lisbon Metropolitan Area (less 1,0 percentage points).

INE data show a slight acceleration in housing prices with the annual rate of change between the 3rd and 4th quarter of 2020, to climb from 7,6% in order to 7,8%. This trend contradicts the slowdown seen in the previous two quarters.

The analysis also revealed that the three sub-regions with the highest prices – Algarve (1.809 euros / square meters), Lisbon Metropolitan Area (1.638 euros / m2) and Porto Metropolitan Area (1.288 euros / m2) – registered, simultaneously, year-on-year rates of change (10,1%, 9,6% e 14,7%, respectively) more expressive than that of the country (7,8%). The Autonomous Region of Madeira (1.264 euros / m2) also registered a median price higher than that of the country, but recorded a year-on-year growth, of 3,7%, inferior to the country.

Between the 25 NUTS III, the Metropolitan Area of ​​Porto (+14,7%) is the one with the highest annual growth, and the Alto Alentejo (433 euros / m2), the one with the lowest median sale price of family housing.

Considering the 24 municipalities with more than 100 thousand inhabitants, was the port which registered the highest year-on-year rate of change (21,2%) in the fourth quarter of 2020, while in 16 municipalities there was a slowdown in housing prices. Of these 16 counties, six belonged to the Metropolitan Area of ​​Lisbon, with Almada being the one with the greatest setback (10,8 percentage points); and five to the Porto Metropolitan Area, with Maia registering the biggest regression (6,4 percentage points).

Leiria presented the most expressive deceleration in prices, with a setback of 12,4 percentage points, and it is also the only municipality that recorded a year-on-year price reduction in the 4th quarter of 2020.

Relatively to rises, INE points out that in eight municipalities the acceleration of prices between the 3rd and 4th quarters of 2020 was higher than the national standard (more 0,2 percentage points), having been more accentuated in Amadora (more 6,5 points), in Matosinhos (more 4,5 points), Cascais and Braga (both with more 4,0 points). Year-on-year in the fourth quarter of 2020, the municipality of Porto recorded the highest growth rate (more 21,2%) while in Lisbon municipality the rate was zero.

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