CHARLIE TAYLOR House prices fell by 0.3 per cent in the euro zone during the first three months of the year, as against the same quarter a year earlier.

According to new figures published by Eurostat, the European Union's statistical office, EU property prices rose 1 per cent.

Compared with the fourth quarter of 2013, house prices were down by 0.3 per cent in the euro zone and up by 0.2 per cent in the European Union.

The largest annual decline in house prices in the first quarter was recorded in Croatia, where prices were down 9.7 per cent. Slovenia and Cyprus recorded declines of 6.6 per cent and 5.7 per cent respectively.

The biggest increases in house prices over the year were in Estonia, up 17.5 per cent, Latvia, up 10.4 per cent and the UK, up 8 per cent.