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Average property costs £100k in every UK town

Average property prices in every British town have surpassed the £100,000 market for the first time, according to the Halifax bank.In Wales, Northern Ireland and Scotland prices continue to rise, with once depressed towns now seeing the fastest-growing prices.Northern Ireland is now the fourth most expensive region to buy property in the UK, behind London, the south-east and south-west.Craigavon, in County Armagh, saw average prices grow 55 per cent from £118,551 to £183,795. Lochgelly in Fife, Scotland, was the last town in the country to have average prices below £100,000.The former mining town remains the place with cheapest average properties among the 489 towns surveyed, but the typical home now costs £104,738.Prices in London rocketed during February and March, buoyed by £19 billion in bonus payments to a price rise of 14.9 per cent.Despite the growth Halifax forecasted slower advances this year because of recent interest rises.Highest average prices in Greater London are likely to surpass the £300,000 market in the next quarter, Halifax predicted.Halifax chief economist Martin Ellis said: "House prices continue to rise in a tight market but there are emerging signs that pressure on householders' finances, partly due to the rise in interest rates since last August, is dampening demand."

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