Armagh in Northern Ireland had the largest hike in property prices per square metre, according to a study by Halifax Estate Agents.

Prices per square metre surged from £970 in 2005 to £1,355 in 2007. Over the last decade, the value per square metre has risen by 231%. Newry has also experienced a 39% growth in the last year, with a 217% rise over the decade. Prices in Belfast have also surged by 36% in the last year, as well as going up 229% over the last 10-year period.

Property prices per square metre rose in Lisburn by 34% over the year, with a 193% rise between 1996 and 2006. Prices also mounted in Londonderry by 28% over the last year with a 176% increase over the last decade.

Martin Ellis, chief economist at the Halifax, said: “Armagh in Northern Ireland is among the cities with the lowest price per square metre, but it has experienced the sixth-largest increase on the price rise list for UK cities over the last decade.”