“Six years after the onset of a crash that wiped more than 50% from its property market values, Ireland has roared back to be named the country with the fastest growing house prices in the world.”
“With average prices up 15% in a year, the country is top of an influential global house price index, ahead of Dubai and the UK.”
“Estate agent Knight Frank, which compiles the index, said Ireland had enjoyed a remarkable turnaround in fortunes over the past 12 months. As recently as summer 2012, it was ranked 54th out of 55 countries surveyed, when house prices were falling by almost 10% a year following the damage wreaked by Ireland’s economic crash of 2008.”
“The firm’s latest index puts the UK in fourth place, with prices up 10.5% in the year to September, making it one of only six countries to achieve double-digit price growth. At the bottom of the table is Cyprus, where prices were down more than 9% over the same period.”
Roared back, eh?
Thanks Joey Jo-Jo Junior Shabadoo
Eamonn Farrell/Photocall Ireland