NI House Prices Increase By 7.9% – Leading UK Growth
Northern Ireland leads house price growth in the UK, in the first quarter of 2018.
The stats revealed in the Nationwide House Price Index for Q1 2018 show that Northern Ireland saw an accelerated rise of 7.9% from 2.0% last year.
Northern Ireland significantly outperformed other regions of the UK. The average annual percentage change in the UK this quarter was 2.5%. Wales followed Northern Ireland with growth of 6.1%, where as London experienced a decline of 1.0%.
Nonetheless, in contrast with other parts of the UK, price levels in the province are still well below their 2007 peak. The average house price in Northern Ireland is now £137,965.
For Q1 of 2018, the average UK house price is £211,792. London remains the most expensive region of the UK, with an average price of £473,776.