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House prices in Belfast fall by 0.9% in just three months

By John Mulgrew

Published 15/11/2016

House prices have risen on average across Northern Ireland
House prices have risen on average across Northern Ireland

The average cost of a home in Belfast has fallen by 0.9% in the last three months, official figures have revealed.

Prices rose across Northern Ireland by 0.8% between quarter two and quarter three this year.

But some areas, including Belfast, saw prices fall or remain flat.

Between Q3 2015 and Q3 2016 the house price index increased by 5.4%.

And a total of 5,200 homes were sold during the third quarter of 2016.

Prices in the city dropped by 0.9%, down to an average of £117,897. And prices also fell by 0.9% in Armagh, Banbridge and Craigavon, down to £109,654.

The average cost of a home rose at its fastest rate in Mid Ulster and Newry, Mourne and Down.

Mid Ulster saw prices up by 3.6% in the space of just three months — rising to £123,102 — while the latter saw costs up by £129,142, up by 3.9%.

And overall, prices have shot up by 5.4% on average right across Northern Ireland over the last 12 months.

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