Fewer than 10,000 single-family homes sold for the first time since 2013

Fewer than 10,000 single-family homes sold for the first time since 2013
Since the all-time high in 2018, the number of transactions in single-family homes has been falling.
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It has been analyzing developments in the official land register every year since 2009 together with the data service provider Immo-United.

The single-family home market has been shrinking continuously since 2018, with 12,689 properties sold. The decrease from 2021 to 2022 was minus 8.2 percent. Only in 2020 (minus 10.1 percent) and 2013 (minus 11.6 percent) was it even larger. In the 14 years of analysis, it is only the fourth time that the 10,000 mark has not been reached (2009, 2011 and 2013). The all-time high of 2018 is 22.5 percent missing.

This year it will be cheaper

In the first half of 2022, the demand for single-family homes was at a record level, while the supply was at a historic low, says Bernhard Reikersdorfer, Director of Remax Austria: “Prices have increased massively again, especially during this time. In the second half of the year there were already a noticeable relaxation – demand fell, supply increased again. This trend continued in the first months of 2023 – the supply of residential properties is now around 40 percent higher than in the same period of the previous year, and demand is changing , due to the current framework conditions, at a manageable level compared to previous years.” The price curve had already flattened out in the last few months of the previous year, “from today’s perspective we expect falling prices for 2023,” says Reikersdorfer.

The federal states of Styria (minus 237) and Upper Austria (minus 166 to 1754) recorded the largest declines in transactions in the previous year. Compared to the record year 2018, there were 456 fewer in Upper Austria.

The Austria average for prices for single-family houses was EUR 352,485 gross, which is EUR 38,134 more than in 2021. With a typical single-family house price of EUR 355,789, according to Remax, Upper Austria is still “in the golden mean, four federal states are more expensive, four cheaper”. .

Source: Nachrichten

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