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spain house price updatea
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Spanish home prices fell the most on record in the fourth quarter as the euro area’s fourth-largest economy shrank and a reduction in mortgage lending crimped demand for property.
The average price of houses and apartments declined 11.2 percent from a year earlier, the most since the measurement began in 2008, the National Statistics Institute in Madrid said today in an e-mailed statement. Prices dropped 4.2 percent from the previous quarter and are down 21.7 percent from the market’s peak in the third quarter of 2007.