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Britain's gain, Spain's pain in house price data


Britain's gain, Spain's pain in house price data


There is mixed news for two of Europe’s big housing markets. UK property prices rose for the second month in a row, provding further evidence the slump in the market there may by bottoming out.

A survey by the Nationwide building society showed prices were up by just under 1 percent, leaving them less then 10 percent down on a year ago. It follows data revealing consumer confidence to be at its highest in 14 months. But property market experts say it is too soon to say the corner has been turned. Meanwhile, Spain is feeling the pain with figures showing house prices falling by nearly 7 percent and at their fastest pace on record in the first quarter. Experts are warning of worse to come with spiralling unemployment.

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