Eurozone house price growth slows down
House price inflation across the eurozone is beginning to level off, according to new figures.
The European Central Bank revealed that during the first half of 2007, property values across countries in the single currency went up by 5%.
This is down from 6.1% a year earlier and an indication that while the property market is still growing, the rate of growth is slowing down.
Figures showed that this trend was especially apparent in those countries that have seen property booms in recent years, such as Spain, France and the Republic of Ireland.
Meanwhile, countries which had seen relatively slow increases since the mid-1990s were found to be largely unchanged during the last year.
This could reflect an overall slowdown in the global economy that has occurred during the last 12 month, partly as a result of the global credit crunch.
Concerns over the economy have led to speculation that the world could be facing a period of recession.
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