Wednesday, November 30, 2011

French housing numbers v UK housing numbers

The other day I was asked how many houses were sold in France each year and I didn't know the answer. So I decided to look it up and do a simple comparison between the French and UK housing markets in 2011.  Here are the results:

Population: 63 million
Size: 551,000 km2
Estimated number of house sales in 2011:  circa 790,000
Average house price Paris: €316,900
Average house price regions: €165,000

Population: 62 million
Size: 243,000 km2
Estimated number of house sales in 2011: circa 840,000
Average house price London: €398,000
Average house price England & Wales: €187,200

OK - I know that the UK isn't just England & Wales but these were the figures that I could find easily and I'm only undertaking this exercise as a quick comparison.

French figures are raken from the Notaires de France, England & Wales figures are from the Land Registry, currency conversion rate taken as 1.17 euros to the pound.

A point to note is that the UK transaction figure is the lowest for 40 years (see full story here) while the French transaction numbers for 2011 are higher than in 2010 (see full story here).

However, transaction numbers in France are forecast to fall "significantly" next year according to the Notaires, due to the general economic crisis, CGT reforms and a "wait and see" attitude in the run up to the election.

I'm not sure that we can draw any conclusions from the above other than the blindingly obvious one that 2012 is going to be another tough year for both estate agents and agence immobiliere no matter which side of the channel they are on.

The good news though is that at least I'll have some dazzling stats at my fingertips during the numerous functions and dinner parties I have in the run up to Christmas.

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