Home sales in Spain fell by 6.1% in November compared to the same month of 2011, to a total of 25,655 transactions. Of those properties sold 51% were previously owned homes and the 49% were new build, according to the National Statistics Institute.

The decline in housing sales recorded in November 2012 ended three consecutive months of year-on-year increases in August to October. This positive trend, which came after 17 months of declines, was attributed to the end of the tax benefits for new house purchases which came into force from 1st January this year.

However, that does not seem to have influenced the sales in November as the figures fell once again. The November result was due to a decline both in previously owned as well as new homes, although transactions for the latter fell less.

In the first eleven months of last year, house sales declined by 12.3%, with a drop of 10.2% in new housing transactions and 14.2% for previously owned homes, compared to the previous year.