Belfast Telegraph

Wednesday 23 July 2014

NI homes among the cheapest in UK

House prices in Northern Ireland are among the cheapest in the UK, according to the latest Halifax UK price index report. Londonderry and Craigavon are in the top 10 of affordable property prices.

Homes in Derry cost an average of £868 per square metre and those in Craigavon are £870 per square metre. All the other 10 cheapest locations are deprived areas of Northern England or Wales that have suffered from extreme industrial decline.

Northern Ireland has a clear lead in the top 10 of places where property prices have appreciated least over the past decade.

Belfast is first, Lisburn second and Bangor fourth. The table ignores the interim price inflation and subsequent crash. Following the boom and bust in the property sector, Belfast average home values are today just 25% more than they were 10 years ago: by contrast they have risen by 160% in Peterhead, near Aberdeen.

Ballymena and Craigavon also feature in another of the Halifax top 10 lists – with the largest average property sizes.

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