Euro-Area House Prices Declined in Third Quarter on Italy, Spain

House prices in the euro area fell 0.7 percent in the third quarter from the previous three-month period as declines in Italy and Spain offset gains in France and Ireland.

Prices dropped 2.5 percent from the third quarter of 2011, the European Union’s statistics office in Luxembourg said today. Eurostat’s report was its first on the evolution of house prices.

Prices in Italy and Spain fell 1.1 percent and 3.7 percent, respectively, from the second quarter, according to the report. French prices rose 0.9 percent, while in Ireland they gained 1.6 percent. No data were provided for Austria, Cyprus, Germany or Greece.

House prices declined 0.4 percent in the 27-nation EU in the third quarter from the previous three months and 1.9 percent in the year, the report showed.

To contact the reporter on this story: Patrick Henry in Brussels at phenry8@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.