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House prices in the EU continue to plummet

In Ireland, prices fell 3 per cent nationally in the first three months of this year.

HOUSE PRICES IN The European Union are continuing to drop with the most recent figures showing a fall 1.4 per cent in the first quarter of 2013 compared to last year.

The figures, published by Eurostat today, show that in the eurozone area there was a drop in prices of 2.2 per cent.

Compared with the fourth quarter of 2012, house prices fell by 1 per cent in the eurozone area and 0.6 per cent in the EU in the first quarter of this year.

Countries with the highest increases during this period include Romania, up 4.3 per cent and Estonia, up 3.1 per cent.

In Ireland, house prices were down 3 per cent in the first three months of this year, though the largest decline was in Spain which saw prices fall 12.8 per cent.

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