LONDON: UK house price growth surpassed that of major eurozone economies in the third quarter of last year, official EU-wide figures have revealed. Ireland posted a similar boom with prices rocketing even faster than in the UK.
Eurostat yesterday released its housing prices statistics for the third quarter of 2014, with the data showing that house prices in the UK had climbed 11.7 percent year-on-year during the reported period, and four percent as compared with the previous quarter.
While the UK housing market has seen a recovery amid growth in pay and rising employment, other EU countries are lagging behind. The UK outperformed the eurozone where prices managed to increase only 0.5 percent on the year. In the wider EU, house prices rose 2.3 percent year-on-year.
