Northern Ireland House Price Index Shows Rise of 3.1%
Northern Ireland House Prices have risen across all council areas, according to the latest report from the Northern Ireland Statistics and Research Agency. Between Q1 (January – March) 2017 and Q2 (April – June) 2017 the house price index increased by 3.1%. The Index measures change in the price of residential property sold in Northern Ireland (NI) and uses stamp duty information on residential property sales recorded by HMRC.
Results for the most recent quarter (April – June 2017), which are provisional show that:
- Between Q1 (January – March) 2017 and Q2 (April – June) 2017 the house price index increased by 3.1%
- Between Q2 2016 and Q2 2017 the house price index increased by 4.4%;
- 5,106 residential properties sold during Q2 2017 (this will be revised upwards next quarter due to late returns);
- The house price index is now 16% higher than Q1 2015 (the reference period);
All district council areas showed an increase over the quarter.
The Index value for Q2 2017 for NI as a whole is 116.0 and ranges from 110.0 in Ards and North Down to 123.6 in Fermanagh & Omagh. The standardised price for NI as a whole is £128,650 and ranges from £109,939 in Derry City and Strabane to £154,704 in Lisburn and Castlereagh.
Detailed statistics on each council are shown below: