House Prices Soar in Northern Ireland

Armagh has recorded the biggest increase in house prices of any city in the UK, according to a new report.

The research, by Halifax Estate Agents, indicated that "urban regeneration" was one of the main reasons for the rise in prices.

House prices in Armagh rose by 188 per cent over the past five years.


Three other cities in Northern Ireland featured in the top five areas in the UK for house price growth.

Newry saw house prices rise by 157 per cent, while Lisburn and Derry had rises of 152 per cent and 132 per cent respectively.

Martin Ellis, chief economist at Halifax Estate Agents, said: "Many cities have benefited from urban regeneration programmes that have seen the wide scale re-development of old industrial areas and canal side warehouses into residential properties."

Belfast recorded a rise of 123 per cent in house prices, according to the figures.

(NS/JM)