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Eurozone sees house prices go up

granadaHouse prices went up by 1.1% in the eurozone and by 2.3% in the EU in the months of April to June this year compared to the same period last year.

Compared to the first quarter of 2015, the eurozone prices increased by 1.2% and the wider EU by 1.3%, according to data provided by Eurostat.

In Portugal, the figures were much higher, although not the greatest in the region.

House prices, albeit provisional, jumped by nearly 3% in the second quarter of 2015 compared to that quarter in 2014.

Compared to the first quarter of this year, prices were up by 3.7%.

The figures are for the whole country with no regional breakdown provided.

Eurostat reported that the greatest annual increases in house prices were recorded in Sweden (13%), Hungary (12%) and Ireland (11%). The highest quarterly leaps were in Cyprus (7%), Austria (6%), Denmark and Spain (4% each).

Prices were down in Italy, France and Malta.

In the UK there was an annual increase of 5.6%.

No statistics were provided by Greece.

In the eurozone, house prices peaked in mid-2006 after which there was a near steady decline for three years until mid-2009.

Prices continued to rally for the following two years but in the spring of 2011 they took a steady dip until the beginning of 2013. Prices have been rising since.

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