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Eurozone house market cools down in Q1

Staff Writer | July 20, 2017
The eurozone house market cooled down in the first quarter (Q1) of this year, recording the smallest quarterly rise since the end of 2015.
Eurozone house
Europe   The current cooling down may ease the pressure
The European Union's (EU) statistics agency said the house prices during the first three months of the year rose by 0.4 percent compared to the last quarter (Q4) of 2016, and four percent year-on-year.

This means the housing market continued to cool down since the end of last year, when prices were up 0.7 percent between Q3 and Q4.

The highest increases were recorded in the Czech Republic at 2.9 percent, while in Germany, prices decreased by one percent.

Eurozone house prices fell after the financial crisis, but began to rise again from mid-2010.

The slow growth may have reflected some worries among investors or home buyers at the start of the year when eurosceptic politicians gained ground in the run-up to elections in France and the Netherlands.

The current cooling down may ease the pressure of the European Central Bank for an early halt or reduction of its giant bond-buying program.