House price slide hits recovery hopes

European house prices fell more quickly in the first three months of 2009 than even in the fourth quarter of 2008 when global recession struck, a trend that looks set to dim the region’s hopes for economic recovery.

The FT’s European House Price Index showed the rate of annual price declines in the 16-member eurozone edging towards the even sharper decreases for the wider European region, driven by substantial house-price drops in the UK.

ESO: Background information: Europeans optimistic on property prices http://www.europeansources.info/record/europeans-optimistic-on-property-prices/

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