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Average price of house in NI increases to £125,000

By Vicky Shaw

The average price of a house in Northern Ireland stands at £125,000, according to official figures.

Across the UK, prices reached a record high in February after increasing by £12,000 on average over the past year, figures compiled jointly by the Office for National Statistics, the Land Registry and other bodies show.

In Northern Ireland, the £125,000 average price marked a 5.7% annual rise - just 0.1% behind the UK average.

Property values increased by 5.8% year-on-year to reach a record of £218,000 typically across the UK.

The annual increase is slower than the average growth of 7.3% seen in 2016. Property values edged up by 0.6% month on month in February.

In February, the most expensive area to live in was Kensington and Chelsea, where a house sells for an average of £1.4m.

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