Northern Ireland House Price Index increases by 0.6% for the last quarter of 2016.
Land & Property Services assisted by the Northern Ireland Statistics & Research Agency today released the House Price Index report for Quarter 4 2016. The Index measures change in the price of residential property sold in Northern Ireland (NI). The Index uses stamp duty information on residential property sales recorded by HMRC.
Results for the most recent quarter (October – December 2016) shows an increase in the index by 0.6% reflecting an increase in price towards the end of the year. Compared to the same period in 2015, the index increased by 5.7%.
The Index value for Q4 2016 for NI as a whole is 113.1 and ranges from 108.2 in Ards and North Down to 119.6 in Causeway Coast and Glens. The standardised price for NI as a whole is £125,480 and ranges from £108,464 in Derry City and Strabane to £149,600 in Lisburn and Castlereagh.
Results for the most recent quarter (October – December 2016), which are provisional show that:
• Between Q3 (July – September) 2016 and Q4 (October – December) 2016 the house price index increased by 0.6%;
• Between Q4 2015 and Q4 2016 the house price index increased by 5.7%;
• 5,081 residential properties sold during Q4 2016, bringing the provisional total of sales in 2016 to 21,669;
• The house price index is now 13.1% higher than Q1 2015 (the reference period); and
All district council areas showed an increase over the quarter, except for Antrim and Newtownabbey, Lisburn and Castlereagh ,Mid and East Antrim, and Newry, Mourne and Down, where the index decreased.