Halifax has conducted its research on the country with the fastest growing house prices over a period of five years. They found that Spain was at the top of the table with a 100per cent increase and the United Kingdom was a close second with a 90 per cent increase.
The rest of Europe, called the eurozone, averaged a 40per cent increase. Only Germany reported a loss of 5 per cent over the last five years.
The countries that Halifax used in its research were Austria, Belgium, Finland, Germany, Greece, Iceland, Itlay, Luxembourg, Netherlands, Portugal and Spain. Although the United Kingdom has seen a rapid growth in house prices, research shows that the market is starting to slow down.
The average property price in Spain is £150,200 compared to £187,100 in the United Kingdom.
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