Worldwide housing boom sees Ireland lead the way

HOUSE prices have risen in more countries worldwide than at any point since the financial crisis, with Ireland leading in Europe.

Global property prices increased by an average of 5.2% in the 12 months leading up to June 2014, according to the Knight Frank global house price index.

Ireland has jumped from 54th to 3rd position in the rankings in less than two years.

Kate Everett-Allen, head of international residential research for Knight Frank, said that Ireland, Turkey and the UK have split from the group in Europe, seeing a rise up the table in the last quarter.

Cyprus, Greece and Slovenia, however, are firmly-lodged at the bottom of the index.

The global index now stands at 14.3% higher than its financial crisis low in the 2nd quarter of 2009.