Northern Ireland House Price Rises By 4.8% – Average House Price is £135,060
The Northern Ireland House Price Index for Q3 2018 reveals that house prices have increased by 2.3% on the previous quarter and risen by 4.8% annually.
The House Prices Index measures change in the price of residential property sold in Northern Ireland and uses stamp duty information on residential property sales recorded by HMRC.
The average house price in Northern Ireland now sits at £135,060, ranging from £116,368 in Armagh City, Banbridge and Craigavon to £161,215 in Lisburn and Castlereagh.
Only two of the 11 local council districts, Armagh City, Banbridge and Craigavon and Derry and Strabane, experienced a slight decrease on the previous quarter (-0.4% and -0.2% respectively). All local government districts showed an increase on Q3 2017, with Newry, Mourne and Down rising the most, by 8.3%.
5,722 residential properties were sold during Q3 2018 (this will be revised upwards next quarter due to late returns).
- Index – 121.7
- Standardised price – £135,060
- Quarterly change – 2.3%
- Annual change – 4.8%
- No. of sales – 5,722
For more information on the Northern Ireland House Price Index visit: https://www.finance-ni.gov.uk/articles/northern-ireland-house-price-index.fin