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Average new house price fell by 10%


The average price of new houses in Northern Ireland has fallen by almost a tenth in the last year, according to figures from the Department of Social Development.

The department found the average price to be £152,900 between July and September 2011. In the same period in 2010 the price was £168,200.

Just 253 new houses were sold in the quarter compared to 387 in the same period in 2010.

The average selling price of National House Building Council (NHBC)-registered new houses was £152,900, a decrease of £15,600 (9.3%) on the same quarter in 2010.

The average price of a new house is below what it was in July-September 2006, when it was £159,900.

In the peak quarter of April-June 2007 the average sale price was £216,400.

The data for new house sales and prices are derived from transactions for new dwellings notified by solicitors to the National House Building Council (NHBC).

While NHBC-registered builders account for a very high proportion of newly-built dwellings, their coverage is less comprehensive in rural areas.

The figures were taken from the Northern Ireland Housing Bulletin, which includes sales of new houses and apartments during the period July to September 2011.