In the third quarter of 2023, sell-side searches generally stabilized in the West region, with nearly one million inquiries. This is according to the new monthly bulletin published by Ouestfrance-immo.com, entitled Les Chiffres de l’immo dans l’Ouest. Current status.
If the end of the third quarter traditionally means calm on the real estate market, it seems that the specific situation of this year 2023 has somewhat shuffled the cards. So, however, buyers did not leave the market.
If most research is oriented towards selling a house, which remains stable compared to the previous quarter, it is clear that the increase in rates a priori caused buyers to change their search criteria, but not necessarily to abandon their projects. In fact, they now seem to be turning towards new features and characteristics with little or no workas evidenced by research conducted on Ouestfrance-immo.com. Searches for goods classified as DPE A increased by 18%, searches for goods classified as “B and C” increased by 13.5% and searches for DPE “A, B and C” by 10%.
And for good reason, as banks are less inclined to lend, buyers no longer have the option of planning a substantial budget for works in their financial package.
Another new source of interest for new buyers: the annuity for life. This form of real estate sales thus occupies a significant share in real estate searches, with an increase of 14.6% between the 2nd and 3rd quarters. It must be said that this alternative is part of a win-win approach, both for the buyer and the seller, in this inflationary period.
on their side investors have not given up on rental investments. With this in mind, it seems that they want to take advantage of the opportunity that a progressive ban on the rental of heat networks may present. Ouestfrance-immo.com thus records an increase in searches for T1 flats as well as properties included in the future trio with prohibited DPE “E, F and G”. Thermal filter research jumped 22% in the third quarter.
The rental housing market is under pressure
While the rental market traditionally slows significantly in September to gradually give way to sales, this was not the case in the third quarter. A new trend that can be explained by several factors. First, the county has been struggling for months lack of rental offerwhile demand is getting stronger.
In the third quarter of this year looking for houses to rent compared to the previous quarter, they thus increased by 6%. Rapid increase in interest rates for loans because they represented a barrier to accession, many French households had to postpone their purchase plans and also find themselves in the rental market.
Another observation, in the face of difficulties in finding housing and increasing rents, students and young professionals are increasingly turning to furnished shared accommodation. Searches for these two types of goods combined rose 10.5% in the third quarter from the previous quarter. It must be said that according to the Ouestfranceimmo.com real estate price barometerIn Rennes and Angers, rents increased by 10.5% in one year, in Brest by almost 10%, in Nantes by 7% and in Caen by 6.5%.
With the gradual ban on heating network rentals, it is feared that this tense situation is unlikely to improve in the coming months if owners face difficulties in renovating their properties.
Stéphanie Marpinard
After developing for 10 years within a group specializing in student media, professional advice and career management, as an assistant editor-in-chief, Stéphanie Marpinard decided to work alone and has been collaborating on various media since then. His areas of expertise include real estate, employment and human resources.