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House prices up by 4.3% in both the euro area and the EU – third quarter of 2018 compared with third quarter of 2017

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House prices, as measured by
the House Price Index, rose by 4.3% in both the euro area and the EU in
the third quarter of 2018 compared with the same quarter of the previous year.
These figures come from Eurostat, the
statistical office of the
European
Union
.

Compared with the second quarter
of 2018, house prices rose by 1.6% in the euro
area
and by 1.5% in the EU in
the third quarter of 2018.

House prices – annual rate of change for the euro area and the EU (%)

House price developments in the EU Member States

Among the Member States for
which data are available, the highest annual increases in house prices in the third
quarter of 2018 were recorded in Slovenia
(+15.1%), the Netherlands (+10.2%)
and Ireland (+9.1%), while prices fell
in Sweden (-2.1%) and Italy (-0.8%).

Compared with the previous quarter, the highest increases were recorded in the Netherlands (+3.3%), Malta (+3.1%) and Croatia (+2.8%), while decreases were observed in Italy (-0.8%), Romania (-0.7%), Finland (-0.4%), Slovakia (-0.3%) and Hungary (-0.2%). 

Quarterly and annual changes in house prices

  Change compared with the Change compared with the
previous quarter, % same quarter of the previous
year, %
2017 2018 2017 2018
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Euro areap 0.8 0.5 1.4 1.6 4.2 4.5 4.4 4.3
EUp 0.6 0.6 1.5 1.5 4.4 4.6 4.3 4.3
Belgium -0.5 0.0 1.0 2.1 3.6 2.5 3.9 2.6
Bulgaria 1.6 0.9 2.8 0.8 8.2 7.1 7.5 6.3
Czechia 0.9 2.2 3.0 2.4 8.4 7.6 8.1 8.7
Denmark -1.9 3.7 1.4 0.3 4.4 5.9 4.6 3.5
Germany 1.9 -0.2 1.5 2.1 4.6 5.5 4.9 5.4
Estonia 1.3 1.5 1.1 0.2 4.9 6.6 7.4 4.1
Ireland 2.6 1.6 2.4 2.2 11.8 12.3 12.6 9.1
Greece : : : : : : : :
Spain 0.9 1.4 2.6 2.2 7.2 6.2 6.8 7.2
France -0.5 0.2 0.9 2.2 3.3 2.9 2.8 2.8
Croatia 3.2 0.9 -0.2 2.8 7.6 8.5 4.5 6.8
Italy -0.4 -0.2 0.6 -0.8 -1.2 -0.5 -0.4 -0.8
Cyprus 2.7 -1.8 0.6 0.2 2.5 3.7 1.2 1.7
Latvia 0.0 5.3 3.1 0.1 7.9 11.4 8.7 8.6
Lithuania 0.2 2.4 2.7 1.1 6.9 7.8 7.4 6.6
Luxembourg* 1.1 2.9 0.9 1.9 4.2 6.4 5.1 7.0
Hungary 1.7 3.2 2.2 -0.2 6.3 11.4 10.6 7.0
Malta 3.2 -4.6 3.6 3.1 4.9 5.3 5.8 5.0
Netherlands 2.3 2.8 1.5 3.3 8.5 9.3 9.2 10.2
Austria 1.5 0.8 0.9 1.6 6.5 5.3 3.7 4.9
Poland 1.3 1.5 2.3 1.3 3.9 6.0 6.2 6.5
Portugal 1.2 3.7 2.3 1.0 10.5 12.2 11.2 8.5
Romania 1.2 2.1 3.1 -0.7 5.6 6.6 4.7 5.7
Slovenia 3.7 4.4 4.2 1.9 10.0 13.4 13.4 15.1
Slovakia 0.5 2.9 1.2 -0.3 5.8 11.7 7.0 4.4
Finland -0.5 0.1 1.8 -0.4 1.2 0.0 0.8 1.0
Sweden -2.8 -0.8 0.6 1.0 3.0 -0.4 -1.7 -2.1
United Kingdom -0.1 -0.2 1.2 2.2 4.6 4.2 3.2 3.1
Iceland 1.0 1.4 1.2 2.1 17.3 13.7 8.0 5.8
Norway -0.1 1.2 2.2 0.2 0.6 -1.1 0.5 3.5

*     excluding newly built single-family houses

:     data not available

p     provisional (entire time series)

Geographical information

The euro area consists of Belgium, Germany,
Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania,
Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and
Finland.

The European Union includes Belgium, Bulgaria,
the Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France,
Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the
Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland,
Sweden and the United Kingdom.

The data
refers to the euro area and EU country compositions at a specific point in
time. New Member States are integrated into the aggregates using a chain index
formula.

Methods and definitions

The House
Price Index (HPI) measures the price changes of all residential properties
purchased by households (flats, detached houses, terraced houses, etc.), both
newly built and existing, independently of their final use and independently of
their previous owners. The Member States’ HPIs are compiled by the National
Statistical Institutes. The euro area and the EU aggregate HPIs are compiled by
Eurostat. HPIs are computed as annually chained indices with weights being
updated each year. The European HPI aggregates are currently calculated as
weighted averages of the national HPIs using as weights the GDP at market
prices (expressed in millions Purchasing Power Standards – PPS) of the
countries concerned.

The figures
are not seasonally adjusted.

Missing
country data is estimated by Eurostat using data from non-harmonised sources.
These estimates are not published but are used to calculate euro area and EU
aggregates.

Revisions and
time table

Compared with News Release 156/2018 of 5 October 2018, the annual growth rate for the second quarter of 2018 has been revised from +4.3% to +4.4% for the euro area and remains unchanged for the EU. The quarterly growth rate for the second quarter of 2018 remains unchanged for the euro area and has been revised from +1.4% to +1.5% for the EU.

Issued by:
Eurostat Press Office

The post House prices up by 4.3% in both the euro area and the EU – third quarter of 2018 compared with third quarter of 2017 appeared first on maltawinds.com.

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