House prices across much of western Europe have stalled or begun to fall as spiralling borrowing costs and fears of oversupply take their toll, a Knight Frank survey has revealed. The Times

The German housing market has been hardest hit. A flood of property for sale in former East Germany depressed house-price inflation Countrywide, by 6.9% over the 12 months to the end of June.

Irish homes enjoyed inflation on average of only 0.9% over the period, but that was distorted by a gain in Dublin, which offset a 0.4% fall across the rest of the Republic.