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2 Jan 08 - City 'Top For House Price Growth'
Belfast saw the fastest rate of house price growth in 2007 with prices jumping
by 32%, new figures show.
The annual survey of 30 places across the UK by Nationwide
found the city now has an average house price of £307,000
- and is one of only five other cities and towns to break
the £300,000 barrier.
The rise from the 2006 average price of £233,000 is also
the equivalent to a hike of more than £200 a day, Nationwide
added.
Throughout the rest of the UK, the former Roman outpost
of St Albans was named the most expensive place to live
overall, with house prices topping £350,000.
Meanwhile, the only area of the UK to experience a fall
was the North East of England, with prices dropping by 3%
in both Newcastle and Durham.
Nationwide chief economist Fionnuala Earley said: "House
price growth recorded another strong year in 2007, but the
national figures disguise movements in different parts of
the country. "Nationwide's house price survey of 30 major
towns and cities in the UK shows how wide the disparities
across the country can be."
News items supplied by SelectNews, produced by PA Business,
part of the group that owns The Press Association, the UK's
national news agency. Copyright (c) PA Business 2007.
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