Canary Islands house prices fell by 4.3% during the first quarter of 2009.  According to data published recently by Spain´s INE – the National Institute of Statistics.

The INE national house price index tracks price changes in each region of Spain.  Where the national picture shows a dip in prices of 7.6%.  So the performance of the Canarian property market is at least ahead of this negative trend.

Data is only collated region by region though – so it´s not possible to discern exactly what has happened to house prices on Lanzarote.  Although clearly asking prices have softened considerably over the course of the last twelve months.