Ireland has world's fastest growing house prices

According to the report in the January edition of "Property Professional" - The Magazine of ARLA and the NAEA and other associations forming part of NFOPP - Ireland has the world's fastest growing house prices.

The report says that only six years after Ireland's crash saw 50% wiped from its property market values, the country has been declared as having the fastest growing house prices in the world.

The country has been named at the top of an influential global house price index which has it placed ahead of Dubai and the UK with Cyprus at the bottom.

The index has been put together by estate agents Knight Frank (that has branches in Ireland), reveals that in 2012 Ireland was ranked almost bottom at 54 out of 55 countries surveyed.

This was at the time when house prices were falling by almost 10% a year following the economic crash of 2008.

Its strong performance is down to the strength of the property market in Dublin.

The UK has been named in fourth place with prices up 10.5% in the year to September 2014, making it one of only six countries to achieve double digit price growth.

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