Pine furniture: UK house market "second strongest in Europe"
Aug 31 2007 12:00AM
The UK housing market is the second strongest performer in Europe in terms of house growth, new research has suggested.
According to statistics from the Halifax and the European Central Bank, UK house prices have shot up by a massive 90 per cent in the last five years.
Britain was pipped to the post by Spain alone, where property values have doubled during the period.
In its latest House Price Index, Halifax identified several Northern Irish towns as having the fastest rising house prices within the UK.
However, Tim Crawford, Halifax group economist, also sounded a note of caution.
He said: "House price growth, however, has slowed in the past couple of years compared with the likes of Belgium and France recording bigger increases."
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