Benchmark
Europe's Housing Market Is Simmering, Not Bubbling
ECB data show pace of property-price growth exceeds long-term average
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House prices in the euro area seem to only know one way: Up.
The inflation-adjusted annual expansion in property values has move above longer-term averages, the European Central Bank said in its Economic Bulletin. But with the recovery in real estate prices at a “fairly early stage,” there are currently no signs of a bubble, it argued.