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Belfast Leads Way In House Price Growth

Fri, 05 Oct 2007
Belfast is leading the way in terms of the quickest UK annual price growth.

Belfast is forging ahead in relation to the UK's housing market .

The capital of Northern Ireland witnessed house price increases of 50% in 2006, overtaking London as the place with the highest property prices, so Nationwide figures show.

The average property in Belfast now costs £10,000 more than the average London home (£302,486).

Aberdeen (up 35%), Sheffield, Bristol (up 17% each) and Reading (up 15%) all experienced high price growth.

Northern Ireland ranks top in terms of quickest house price inflation for the 10th consecutive quarter

Prices went up annually by 42.6% in the third quarter, yet Northern Ireland also saw the biggest slowdown in house price growth, coming down from an astonishing 54% in the second quarter.

London experienced the second quickest UK rate of growth at 16.5%, followed by Scotland at 12.2 per cent. Outer metropolitan and outer south east saw 11% and 10.1% respectively.

London also witnessed the average house price increase at more than £300,000.
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