Immobile.  Here’s where houses are bursting (and where prices have exploded) in Albi and Tarn

Immobile. Here’s where houses are bursting (and where prices have exploded) in Albi and Tarn

Property prices have increased over the past 12 months, especially in Albi (Tarn). (©Ilustration Fabien Hisbacq – News Occitanie)

Tarn is not immune to the explosion of real estate prices… At the beginning of October, Maître Antoine Fabrevice president of the Chamber of Notaries of the Toulouse Court of Appeal for the real estate market Tarnpresented a calculated estimate of real estate in Tarn for the period from July 1, 2021 to June 30, 2022and outlook for the current year.

Several trends are emerging, especially when it comes toincrease in the volume of construction land salesI’a significant increase in the median sale price in certain sectors for old houses (Albi, Lavaur, Dourgne, Alban, Saint-Sulpice-la-Pointe, Gaillac, etc.) or also on the buyer profile (most represented age group: 30 to 39 years old).

An explosion in the volume of construction land sales

In Tarn, the median sale price of land reached the threshold of EUR 49,000 (+8.3% over 12 months). By comparison, this median price reaches €86,300 in Haute-Garonne, €57,500 in Aude or €48,000 in Tarn-et-Garonne.

The Lavaur and Albi sectors remain the most expensive with a median sales price close to €65,000. “Prices continue to follow this momentum and therefore rise, all together. But the volumes still recorded may have peaked. Market stabilization can be expected; it should ultimately lead to a reduction in prices, or even a decline,” explains Mr. Fabre.

Average selling prices of building plots by sector.
Average selling prices of building plots by sector. (©DR)

The explosion of real estate prices in the Albi sector

If the annual development of the median sale price of houses in Tarn (+5.7%, €156,500) is maintained, several sectors have seen a significant increase in recent months. This is especially the caseAlbi (+12.7%, median price: €197,300) and his circuit (+4.3%, median price: €202,400).

Here are the sectors of Tarn where the median house price is the highest:
• Saint-Sulpice – Rabastens sector: €250,800 (+6.9%)
• Lavaur sector: €217,700 (+7.5%)
• Suburb of Albi: €202,400 (+4.3%)
• Albi: €197,300 (+12.7%)
• Gaillac – Lisle-sur-Tarn sector: €190,800 (+3.7%)
• Castres: €150,000 (0.0%).

Other sectors affected by significant increases: Dourgne (+11.3%, median price: €148,000), Cordais (+13.1%, median price: €147,000), Réalmont – Lautrecois-Graulhet (+10.7% , median price: €135,000) or even Alban (+12.7%, median price: €101,000).

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Average sales prices of houses by municipality.
Average sales prices of houses by municipality. (©DR)

Popular neighborhoods in Albi and Castres

Several neighborhoods are particularly popular in the area Castres :
• Melou – Chartreuse, median selling price: €215,300
• Les Monges, median selling price: €202,600
• North and East Circle, median selling price: EUR 190,000
• Castres, median sale price: €150,000
• …

The same in the sectorAlbiwhere prices are particularly high:
• South-South-East, median selling price: €230,000
• West, median selling price: €223,000
• Center; median sales price: €202,000
• Hyper-centre, median selling price: EUR 198,000
• South West, median sales price: €193,000
• …

Average prices per m2 by neighborhood for apartments in Albi.
Average prices per m2 by neighborhood for apartments in Albi. (©DR)

Albi also affected the apartment market

In Tarn, the annual development of the price m2 the median is +5% (€1,750). Data lower than sectorAlbi which has seen an increase of 4.1% (€2,070) over the last twelve months. This puts the episcopal city ahead of Lavaur (€1,610), Castres (€1,490) and Mazamet (€920).

Here are the prices per m2 medians by neighborhood in Albi:
• Hyper-center: EUR 2,200
• South-South-East: EUR 2,140
• Center: EUR 2,000
• Northwest: €1,990.

“In Tarn we notice that from now on the price difference in the old apartment between Albi, Lavaur and Castres is shrinking more and more; it is perhaps a sign that supply in the Albigensian capital is becoming scarce in the most sought-after types of properties, 2 and 3 rooms,” Me Fabre elaborates. On the side Castresthere is a slight increase in the price per m2 median (€1,490, +3.2%).

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