NI House prices 'strongest since 2007'

The performance of Northern Ireland's housing market between April and June was at its strongest level since 2007, according to findings contained in the latest University of Ulster quarterly house price index. The average house cost £139,720, up 6.9% on the same period last year and 1.4% higher than the first quarter.

Researchers said rises in transaction levels and prices suggested "a significant shift in market sentiment", whilst the report suggests sales values "still reflected an affordable price structure in Northern Ireland".

While the overall price growth was reflected across several areas, the University of Ulster researchers said the inconsistent pattern suggested different paces of recovery across different parts of Northern Ireland:

  •     Belfast (whole city): £145,551 average house price
  •     North Belfast: £91,681
  •     South Belfast: £187,897
  •     East Belfast: £146,962
  •     West Belfast: £122,902
  •     North Down: £169,484
  •     Lisburn: £167,569
  •     East Antrim: £129,026
  •     Londonderry/Strabane: £103,301
  •     Antrim/Ballymena: £106,050
  •     Coleraine/Limavady/North Coast: £140,226
  •     Enniskillen/Fermanagh/South Tyrone: £123,042
  •     Mid Ulster: £112,664
  •     Mid and South Down: £140,889
  •     Craigavon/Armagh: £95,156

While the percentage of properties selling at or below £100,000 declined to 40% from 43% in the previous quarter, the University of Ulster researchers said this still represented a large portion of the market.

The report is produced in partnership with the Northern Ireland Housing Executive and the Bank of Ireland.