Northern Ireland house prices are strongest since 2007
New figures have revealed that house prices in Northern Ireland are at their strongest since they peaked in 2007.
The latest University of Ulster Quarterly House Price Index covering April, May and June showed that the average house price was £139,720.
This represents an increase of 6.9% on the period last year and is up by 1.4% compared with the first quarter of 2014.
The number of sales continued its upward trend, with 1,997 sales reported by a network of estate agents in the survey.
That compares with 1,409 in the same quarter of 2013.
“The residential housing market during the second quarter of 2014 has performed at its strongest level since 2007, with both transaction levels and prices up — indicating a significant shift in market sentiment,” the report authors said.
The Belfast market performed well with the average price rising by 5.4% over the year. Outside the city, North Down prices averaged £169,484 at the top end of the market, with Craigavon/Armagh at the bottom on £95,156.