House prices across the euro area rose at their fastest ever annual rate in the third quarter of 2021, according to the EU's statistical service Eurostat.

Prices rose by 8.8% in the euro area in the three months from July to September last year, compared to the same time in 2020.

This was the highest annual rate since house prices across the euro area were first collected in 2005.

Prices rose by 9.2% on an annual basis across the wider EU over the same period, which was the highest annual rate since 2007.

This was an increase on the annual rate of 6.8% across the euro area and 7.4% across the EU recorded in the second quarter 2021.

Half of member states saw prices rise faster than 10% on an annual basis.

Ireland's annual rate in the third quarter was 10.6% - the 12th highest in the EU.

Prices rose fastest in Czechia (22%), Lithuania (18.9%), Estonia (17.3%) and The Netherlands (16.8%).

The lowest prices rises were recorded in Cyprus (2.2%) and Italy and Spain, which both saw increases of 4.2%.