House price rises near 50% push NI to top of UK hotspots

Posted: 20 Oct 2006 10:40:02 GMT


            Property News - House price rises near 50% push NI to top of UK hotspots

Dramatic house prices of 46 per cent in the Northern Irish towns of Newry and Antrim have powered them to the top of the UK's property hotspots, says new research

Dramatic house prices of 46 per cent in the Northern Irish towns of Newry and Antrim have powered them to the top of the UK's property hotspots, says new research.

The average home in Newry added £57,212 to its market value over the last 12 months and is now worth £180,546, said the Halifax price survey.

Over the same period the average property in Antrim increased £50,857 to its value and is now worth £161,177. Seven of the highest-risers in the UK were in Northern Ireland.

Craigavon (up 36 per cent), Londonderry (up 31 per cent), Ballymena (up 31 per cent), Lisburn (up 31 per cent) and Belfast (up 29 per cent) all made the top ten.

"This partly reflects the more favourable housing affordability position in the country compared to the rest of the UK," said Martin Ellis of Halifax.

"Notably, all ten towns recording the strongest price rises over the past year had average house prices that were comfortably below the national average this time last year."

The Scottish towns of Kilmarnock (35 per cent) and Oban (32 per cent) also made the list. The only English town was Nelson in Lancashire, with prices up 39 per cent.

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