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article_detail
Date Published: 29/10/2019
ARCHIVED - 20 per cent fall in Murcia property mortgage activity during August
The drop exceeds the decrease in sales as the August data spring surprises all over Spain
Earlier this month statistics were published which showed that property sales in Murcia fell by 16 per cent in August, and more data which were made public this Tuesday showed that the decrease in mortgage activity during the month was even more pronounced at 20.2 per cent.
The number of new mortgages registered on residential property was just 569, as opposed to 713 in August 2018, a drop which was mirrored to a greater or lesser extent in the other 16 regions of Spain: the nationwide total fell by 29.9 per cent, with the sharpest decrease being reported in La Rioja at 61.5 per cent.
Back in Murcia, meanwhile, the average loan capital of 80,620 was almost identical to that of the previous month, although in general this can be a rather volatile statistic in the Region, ranging between 70,000 and 100,000 over the last 18 months.
It is always possible, of course, that the August results are nothing more than a blip, but after a period in which the market appeared to be returning to stability the September figures will be awaited with some anxiety. In the meantime, the longer-term picture shows that the fall in August goes against a gradual on-going upward trend in mortgage activity in the Costa Cálida and in Spain: the running 12-monthly total for property mortgages stands at 8,608, representing a rise of 4.1 per cent over the last 12 months and an increase of 76 per cent since the market bottomed out in the spring of 2014, while in Spain the equivalent rises are 7 per cent and 99 per cent.
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