Armagh is best performing city in the UK

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by Kay Murchie

According to Halifax Estate Agents, Armagh in Northern Ireland has seen growth of 188% during the last 5 years, making it the best performing city in the UK.

The entire top 4 is made up of cities in Northern Ireland, with Newry, Lisburn and Londonderry in second, third and fourth place with property prices increasing by 157%, 152% and 132% respectively.

The best performing city on the British mainland was Bradford in Yorkshire with price rises of 131%. Dundee and Aberdeen were in sixth and seventh place with growth of 130% and 125% respectively, followed by Swansea and St Davids in Wales and Carlisle.

However, no cities in the south of the country made it into the top 10.

Martin Ellis, chief economist at Halifax Estate Agents, said there will always be demand to live in cities with the convenience of shopping and leisure facilities, in addition to easy commuting for workers.

Halifax added that smaller cities had generally performed better than the larger ones, with 9 out of the top 10 cities that saw the biggest gains having populations of less than 300,000.

Westminster in London is the UK’s most expensive city with the average property costing £601,821. Winchester is the most expensive city outside London, with the average property at £379,643.

The most inexpensive cities to live in are Hull and Stoke-on-Trent with the average properties here costing £128,863 and £134,978 respectively.