From This is Money:
The report, which compares quarterly prices on a year earlier, showed Eurozone property prices down 3.5% annually in the first three months of 2009, while the wider Europe region (which includes the UK) was down 5.1%.
Both regions saw annual falls accelerate from -0.8% and -2.3% in the final three months of 2008.
The UK’s Halifax index posted the biggest decline of those reports included, at 17.2%, followed by Ireland’s 9.9% fall in property prices.
– Is it time to get out of the property market?
The index compared annual rises or falls at March 2009: since then price falls have slowed in the UK, with the Nationwide reporting prices rising by 0.9% between March and June.
Prices in Spain in the year to March were down by 6.5%, compared to a 2.8% fall registered in December, however, economists question the accuracy of Spanish property figures and anecdotal evidence suggests prices are falling faster than record show.
The best performing property market was Switzerland, where p…
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