EU house prices record steady growth in Q3

House prices in the European Union rose by an average of 5.2% year-on-year in the third quarter of 2020, a report by Eurostat showed. House prices in the euro area increased by 4.9% annually in the same quarter.

On a quarterly basis, house prices in Q3 of 2020 rose by 1.4% in the EU and 1.3% in the euro area.

The EU member countries that recorded the biggest decreases in Q3 house prices compared to the second quarter of 2020 were Cyprus (-4.8%), Romania (-2.6%), Italy (-2.5%) and Croatia (-0.6%).

The countries that recorded the highest quarterly growth in Q3 house prices were Hungary (+5.2%), Denmark (+4.2%) and Latvia (+3.7%).

In terms of the highest annual growth in house prices, Luxembourg (+13.6%), Poland (+10.9%) and Austria (+8.9%) reported the biggest jumps in Q3 of 2020, compared to the same quarter in 2019. 

Only Cyprus (-1.4%) and Ireland (-0.8%) reported an annual fall in house prices in the quarter.