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Average house price in Northern Ireland now £117,000

By Claire McNeilly

Published 19/11/2015

House prices have increased by 7% between July and September compared to the same time last year, new research has found
House prices have increased by 7% between July and September compared to the same time last year, new research has found

House prices have increased by 7% between July and September compared to the same time last year, new research has found.

It brings the average price of a home in Northern Ireland to almost £117,000, the official figures indicate.

All areas except mid-Ulster saw a rise in the latest quarter, the survey from the NI Statistics and Research Agency showed.

Between 2005 and 2007 house prices here doubled. The subsequent property crash saw prices reaching a low point in early 2013.

Prices remain about 40% below their level before the crash.

The new figures show that over 5,100 residential properties were sold in quarter three of this year.

They also indicate prices ranged from £96,724 in the Derry and Strabane council area to £138,821 in Lisburn and Castlereagh.

Earlier this week a Ulster University house price index for the third quarter of 2015 using different criteria gave an average house price of £154,376 - up 7.8% on the same period last year.

Belfast-based estate agent Simon Brien said sales this year had picked up "enormously".

"Throughout all of last year Northern Ireland saw stability come back into the market and confidence gradually grew," he added. "This year it has picked up enormously in terms of sales."

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