House prices in the euro area fell by 0.3% as measured by the House Price Index (HPI) and increased by 1% in the EU during the first quarter of 2014 compared with the same period last year. When compared with the fourth quarter of 2013 the HPI fell by 0.3% in the euro area and rose by 0.2% in the EU according to Eurostat.
The biggest annual falls in house prices according to the HPI were in Croatia with -9.7%, Slovenia -6.6% and Cyprus -5.7%. The biggest increases were in Estonia with 17.5% and Latvia with 10.4%. The UK was next with an increase of 8%. The biggest falls over the quarter were in Croatia with -2.7%, Luxembourg with -2.3% and Slovenia -1.7%. THe highest increases were in Estonia with an increase of 4.8%, Sweden with an increase of 2.4% and the UK with an increase of 2.2%.
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