A new website to evaluate real estate

The notaries of France have just launched a website broadcasting all their real estate statistics. Comprehensive and free data, but for the most recent and accurate figures, it will be necessary to part with money.

It is a new tool available to individuals interested in real estate. On the 1st of July, French notaries launched their website devoted to real estate statistics. It took six years for the complete data to be congregated and made available to the general public. A law provided for this opening in 2011, but the texts of application took a very long time to be published. Notaries are obliged to supply this base only since 1st of January, and to communicate since the 1st of July. Finally, it is possible to know precisely the median prices around different addresses, as well as the exact number of sales completed during the previous quarter. Until now, notaries distributed this data only for the Ile-de-France region.

Such services are already offered by other real estate appraisers, such as Meilleursagents, but the data of the notaries have the particularity of being incredibly-exhaustive and comprehensive. This is because any real estate transaction must be registered in one of their studies. The disadvantage of notarial statistics, on the other hand, is that they lack freshness. The prices at their disposal on the day of the final sale have in fact generally been negotiated more than three months previously. But the notaries have mostly corrected this defect by integrating, only at the paid part of their site however, all the pre-contracts (the compromises and the promises of sale signed as soon as the negotiation ends) that they know of.

Two years of history

In addition to a free service that allows access to median prices at the level of its commune or even its neighbourhood, the site proposes, for a minimum of five euros, to refine its research by integrating more criteria (five euros per criterion). For example, it is possible to search only for three rooms, or for houses that are energy efficient.

To date, 93% of notaries supply the site with data. The profession hopes to see 100% of its members tackle it in the months to come. As the base grows, notaries will propose a finer meshing of the territory, and to have comprehensive data that takes into consideration any older contracts. Today, only one quarter is available (the first quarter of 2017), but notaries should eventually provide two years of history, as foreseen in the texts. It is unfortunate that the site does not go back further, and that individuals can not evaluate the magnitude of potential surplus value over a greater number of years.

You can visit the new website here: https://immobilier.statistiques.notaires.fr/

For any more information on this topic, contact Cabinet Roche for an even more comprehensive look at the new statistics.


Image credit: Khairul Abdullah

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