The average house price in North Down is down overall at £168,203.
According to the University of Ulster’s quarterly house price index the average sale price has declined over the quarter but there is evidence of price growth in three sectors — terraced or town houses up 3.3%, semi-detached houses up 7.3% and detached houses up 9.8%.
Over the year the overall average price fell by 9.7% across Northern Ireland, with significant variability by property type.
Detached bungalows fell by 17% to £196,333, terraced and town houses fell 12.1% to £110,784, semi-detached houses by 7.8% to £143,352. In contrast, detached houses rose by 31.1% to £379,182.
North Down’s average house price of £168,203 was down by 9.7% over the year.
The performance of different property types varied strongly, with terraced/town houses down by 12.1% to £110,784 and detached bungalows down by 17% to £196,333. In contrast, detached homes were buoyant, up by 31.1% to £379,182 over the year.
Alan Bridle, UK Economist, Bank of Ireland, said: “Overall, 2011 may be the year when the local market bottoms out."