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Property prices edge up

Property prices edge upHouse prices in the eurozone rose by 0.5% in the third quarter of 2014, compared with the same quarter in 2013.

The rise was even more marked in Portugal, where prices went up nearly 5% for that period.

The data, from Eurostat, considers the country as a whole rather than individual areas such as the Algarve.

The highest annual increases in the July to September period were in Ireland (a whopping 15%) and the UK (11.7%).

The largest fall among euro countries was in Italy (3.8%).

In Spain, property prices went up by a slim 0.3%.

No data from Greece was published, while prices in France dropped by 1.2%.

Residential property prices in the eurozone were at their highest in the summer of 2006, dropping steadily after that until the summer of 2009 when a slight rally brought prices up until March 2011.

Another dip followed but since early 2013, prices have again been rising but are still below those of the peak in March 2011.

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