ECB Monthly Bulletin, February 2006

The European Central Bank published its February 2006 Monthly Bulletin on Thursday. In the report the ECB said it sees tentative signs that the euro zone housing market is becoming overvalued following recent sharp price rises in some countries.

'Euro area house price valuation measures continue to be above their historical averages, which, bearing in mind all the caveats attached to this approach, can be seen as a tentative sign of a growing risk of overvaluation in the euro area housing market

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