2014 saw a continuation of the gradual downward drift in residential property prices which began in 2012: prices fell by a further 2.4% nationwide, although the drop was more marked in the rest of France (-2.5%) than in the Île de France region (-2%) and in Paris (-2.2%). Trends in transaction volumes varied over the year: purchases of existing dwellings picked up in the first half of 2014, but then declined again over the remainder of the year (-3.5%), and this downward trend accelerated in the first quarter of 2015 (-4.8% at end-March); in contrast, transactions in the new housing market have rebounded markedly since the first quarter of 2014.