“ Readjustment of a market that is too high or a real gap between prices and purchasing power of households? » This is the question posed by the scientific team of Se Loger, the leading French real estate site, by publishing next Wednesday, March 6, the figures for the Bordeaux market from March 1uh March 2024.
The podiums of the most expensive and least expensive neighborhoods, all housing types together.
So infographic…
“ Readjustment of a market that is too high or a real gap between prices and purchasing power of households? » This is the question posed by the scientific team of Se Loger, the leading French real estate site, by publishing next Wednesday, March 6, the figures for the Bordeaux market from March 1uh March 2024.
The podiums of the most expensive and least expensive neighborhoods, all housing types together.
So infographics
“After reaching peaks in 2022, the average price has largely fallen below the limit of €5,000/m² to be settled at €4,628/m2, all types of goods together,” explains Alexandra Verlhiac, doctoral economist at Aviv Group, a company that manages Housing. “This price level is the result of a decline of 7.4% in one year, the strongest of all eleven largest cities in France. »
Smoothed out over four years, Se Loger’s figures show an increase of 12.4% between 2018 and August 2022. Then a decrease of 11.2% between August 2022 and March 2024. But this is not because prices have fallen now that households regained their purchases. power: the decline does not compensate for the sharp increase in interest rates. Less expensive to the seller, the property costs more to the banker. “A few middle-income buyers could buy 57 million2 in January 2022. From 1uh In March 2024, this purchasing capacity will only amount to 50 million2 », continues Alexandra Verlhiac.
Neighborhood by neighborhood
Geographically, we find an unsurprising distribution of neighborhoods based on their prices. The Golden Triangle still lives up to its name: rue Voltaire, between Grands-Hommes and Intendance, is the most expensive in Bordeaux (€6,579/m2). The town hall-Quinconces sector is the most expensive (€5,550/m2) before Fondaudège (5,278 €/m2) and the Chartrons (5,064 €/m2).
The three “cheapest” neighborhoods are Bacalan (3,882 €/m2), Lestonat-Monséjour (4,037 €/m2) and the Bastide (4,225 €/m2). There are a few surprises between the two: Nansouty (€4,517/m2) stands for Saint-Augustin (4,503 €/m2) and Victoire-Capucins (4,668 €/m2) at the same level as Parc Bordeaux Primrose/Caudéran (4,669 €/m2).
Same on the edge
Please note that the first suburbs of Bordeaux experience the same phenomenon of sharp decline, sometimes even more severe: -13% for apartments and -9.5% for houses in Mérignac and Pessac.
So adaptation or continued gap? Probably both, and the process doesn’t seem to be over yet. First sign: sales times are getting longer, averaging eighty-five days a weekuh March, compared to sixty-six days a year earlier.
“Banks are starting to relax the conditions for access to credit”
Second sign: The inventory of goods for sale is piling up. “This shows that sellers seem unwilling to accept market conditions,” says Alexandra Verlhiac. “If some can afford to wait, others will be forced to sell and therefore accept negotiations,” predicts the economist, who concludes that the decline will continue in 2024.
Please note: this wait-and-see attitude of sellers and this obstacle to starters does not remain without an effect on the rental market, where the stock of available homes is at a low level and rents continue to rise. However, there is a bright spot: “The banks are starting to relax the conditions for access to credit. And rates should remain stable or even decline over the summer. »