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Hungary sees steepest EU house price rise

House prices in Hungary increased by 11.3 per cent in the first quarter, the strongest annual growth of all European Union members.

The figures from Eurostat do not reveal how average house prices differ between the 28 member states – only the percentage increase or decrease.

Greece does not currently supply house price data to Eurostat so it is excluded from the findings.

Overall house prices across the European Union rose by 4 per cent year on year.

Not far behind Hungary, the Czech Republic also saw strong growth of 9.4 per cent and Portugal reported an increase of 9.2 per cent.

Slovenia, Poland and the Netherlands all posted increases over 8 per cent, while  Bulgaria, Lithuania, Luxembourg, Latvia, Spain, Malta and Croatia saw annual growth of around 7 per cent.

The only country to see prices fall slightly was Italy with a drop of 0.8 per cent.

Finland saw the smallest increase at just 0.7 per cent, while the UK was close to the bottom of the chart at 1.5 per cent alongside Sweden.

Price growth in Ireland was close to the EU average at 4.4 per cent.

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