Spanish house prices are back on dry ground after almost a year under water, according to the latest figures from the Association of Spanish Notaries. Nationally, average house prices in terms of euros per square metre rose almost 4% in June, and 2% in July.

House prices in Spain had fallen in 11 out of 12 months between June 2020 and May 2021, but have recently returned to growth, according to a report by Spanish Property Insight.

The report found that while sales plunged 37% in March 2020, 70% in April, and 52% in May, Spanish house prices rose by 2%, 7%, and 5% respectively, before turning negative in June 2020, and staying that way for almost a year.

Regionally, prices in July were up by 12% in the Balearics, and 11% in the Canaries, and by 39% and 18% respectively in June. At the other end of the scale, prices fell by 2% in Catalonia, where local Government policies might explain why prices are not rising as they are in the rest of Spain.