UK house prices pull away from Eurozone’s with 11.7 per cent on the year

first_imgWednesday 21 January 2015 8:34 pm Show Comments ▼ UK house prices pull away from Eurozone’s with 11.7 per cent on the year Express KCS whatsapp whatsapp Share British house prices pushed ahead of those in other major economies towards the end of last year, official figures showed yesterday.While cheap money combined with growth in pay and rising employment has conspired to spark a housing market recovery in some countries, other parts of the EU are still falling behind.Only nations like Ireland and Sweden saw similar booms, as the other big economies saw the market stagnate or even fall in the third quarter.UK house prices rose by 11.7 per cent on the year and four per cent on the quarter. A lack of demand has been blamed in areas such as London.Ireland’s rocketed even faster at 15 per cent on the year and 6.7 per cent in the three-month period.The only other state to exceed Britain’s market’s annual price growth was Estonia at 13.2 per cent on the year and 4.1 per cent on the quarter, the figures showed.Overall, prices rose 0.5 per cent in the Eurozone on the year, and 2.3 per cent in the wider EU.This points to a very poor performance in other markets.French house prices fell 1.2 per cent on the year, but did creep up 0.9 per cent on the quarter.Spanish prices – which were still falling sharply until early 2014 – edged up 0.3 per cent on the year and 0.2 per cent on the three-month period.Of the big economies, Italy’s market is performing the worst – house prices dived 3.8 per cent on the year, falling in each quarter of the past year.A handful of the smaller economies have also seen prices fall.Slovenian house prices fell 5.4 per cent on the year, while those in Romania also dipped 2.3 per cent.EU data agency Eurostat does not have figures available for Germany or Greece. More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Tags: Eurozone UK house priceslast_img

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