Spain's housing prices rise by 4.5 pct in Q3

Spanish housing prices rose by 4.5 percent in the third quarter of the year in comparison with the same period of a year earlier, according to data published on Thursday by Spain's Statistical Office (INE).

The figure meant the biggest increase since the last quarter of 2007, before the crisis had started.

Prices of new houses increased by 4.3 percent in the third quarter year-on-year, while prices of second-hand houses rose by 4.5 percent, which was the biggest rise since the third quarter in 2007.

On a quarterly basis, housing prices rose by 0.7 percent from the second quarter to the third one, with prices of new houses rising by 0.6 percent and prices of second-hand houses increasing by 0.7 percent.

Housing prices have been increasing for six consecutive quarters on a year-on-year basis. Spain's housing prices started falling in the second quarter in 2008 when the financial crisis started and they rose for the first time in the second quarter in 2014 after 24 months of falls. Endit