County Armagh sees greatest house price growth

04-Feb-2008

A 331 per cent growth in property prices has been experienced in county Armagh over the last ten years, it has emerged.

The region was found to have delivered the fasted house price growth in the UK in the latest annual Bank of Scotland County House Price survey.

Some 44 out of 104 counties in the UK examined by the study were found to have experienced at least a trebling in average house prices since 1997.

Whereas every UK county featured an average house price of less than £150,000 ten years ago, just 20 have such a value a decade later, the survey found.

"All counties in the UK have seen at least a doubling in prices since 1997. Prices in more than four in ten counties trebled or more," commented Martin Ellis, chief economist for the Bank of Scotland.

Commenting on the findings of the Halifax House Price Index for the fourth quarter of 2007, chief economist at the bank Martin Ellis predicted that UK house prices will be "flat in 2008, but we expect regional variations".

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