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House Prices up by 2.9% in the Euro Area

According to figures released by Eurostat, the statistical office of the European Union, house prices rose by 2.9% in the euro area and by 4.0% in the EU in the second quarter of 2016 compared with the same quarter of the previous year. Compared with the first quarter of 2016, house prices rose by 1.4% in the euro area and by 1.6% in the EU in the second quarter of 2016.
The highest annual increases in house prices in the second quarter of 2016 were recorded in Hungary and Latvia (both +10.3%), Austria (+9.0%), the United Kingdom (+8.8%) and Sweden (+8.7%), while falls were observed in Cyprus (-8.9%) and Italy (-1.4%). Compared with the previous quarter, the highest increases were recorded in Latvia (+6.6%), Estonia, Lithuania and Portugal (all +3.1%), as well as the United Kingdom (+3.0%), while falls were observed in Croatia and Cyprus (both –0.9%), Italy (-0.4%) and Hungary (-0.2%).

Further information is available at http://ec.europa.eu/eurostat/news/news-releases .