Belfast Telegraph

House prices: Belfast one of the weakest-performing cities in UK

By Vicky Shaw

Belfast is one of the weakest-performing cities across the UK in terms of house price increases over the last year, research from a property website has revealed.

The average value of a Belfast home in December 2014 is £169,427 - an increase of £5,060 or 3.1% over the year, according to Zoopla.

The website placed Belfast ninth on its list of the 10 worst performing cities.

Separate research, based on house price data from Halifax, found that prices in Craigavon have increased by 3.8% annually to reach £104,789 typically.

Across the UK, Zoopla said homes typically piled £42 a day on to their value throughout 2014 as Britain's housing market recovery gathered momentum.

The average property price increased by £15,191 over the last year to reach £268,895 on average.

But huge variations in the pace of the recovery have been seen across the UK.

Over the last year, property values have typically leapt by £81,619 in London, by £27,675 in Edinburgh and by £21,689 in Aberdeen.

Newcastle, Reading, Dundee, Bristol and Milton Keynes also recorded particularly strong performances in terms of house price increases this year, Zoopla said.

Meanwhile, among the weakest-performing cities, average prices have edged up across 2014 by £978 in Bradford and by £1,346 in Hull. For the second year in a row, Yorkshire and the Humber is the only region where house prices have fallen annually, recording an average decrease of £2,443.

Belfast Telegraph

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