The average price of a house fell 8.1% in 2011 over the previous year, accumulating an adjustment of 24.7%, since the maximum reached in late 2007, according to data released on Tuesday by Real Estate Appraisers (Tinsa).

Thus, Europa Press reported that the decline in house prices recorded in December was a tenth higher than that observed in the month of November.

The decreases registered in the last couple of months were higher than the rest of the year following declines of 6.9% in October, 7.4% in September, 6.8% in August, 6.4% in July, 6.6% in June, 5.9% in May, 4.4% in April, 3.7% in March, 4.5% in February and 5% in January.

The price of housing remained low in December in all areas, with the drop in the price of apartments reaching 9.1% year-on-year in the capitals and major cities, followed by other municipalities, with a decline of 8.4%. Next came the Balearic Islands and the Canary Islands, which matched the average market decline, falling 8.1%.

Mediterranean coastal towns registered below this average, with a drop of 7.2%, while the metropolitan areas completed the list, recording a decline in prices of 6.1%.

After the drop recorded in December, the accumulated decrease since the highs reached in 2007 before the bursting of the real estate bubble and the outbreak of the debt crisis, reached 31.5% for the Mediterranean coastal areas and 26.4% in the capitals and large cities.

In the metropolitan areas, the cumulative fall in home prices stood at 25.2%, while in the Balearic and Canary Islands the decline is 22.2%, and 21.5% for the remaining municipalities .