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Spain's ailing house market hit by 50% sales fall

Reports on Spain's ailing housing market show sales volumes are down almost 5% since the summer and prices may fall further, with holiday homes likely to fare worst of all.

The Spanish market has collapsed since 27, with prices of new coastal homes and older houses in inland "white villages" popular with British buyers plummeting 5% or more. Spain's housing ministry has reported a record-breaking 48% drop in sales between July and September 21.