Malta recorded the highest quarterly increase in house prices in the EU (+6.2 per cent) in the third quarter of last year, according to Eurostat.

It was followed by Ireland (+4.5 per cent), Austria (+4.1 per cent), and Sweden and the United Kingdom (both +3.9 per cent).

The largest falls in the same quarter were recorded in Hungary (-5.9 per cent), Slovenia (-3.5 per cent) and Estonia (-1.9 per cent).

Overall, house prices rose by 2.3 per cent in the euro area and by 3.1 per cent in the EU when compared with the same quarter of 2014.