Northern Ireland House Prices Rise By 4.4%
The Northern Ireland House Prices Index for Q2 2018 reveals that house prices have decreased by 1% on Q1 of 2018 but have risen annually by 4.4%.
The average house price now sits at £132,795 in Northern Ireland, ranging from £117,869 in Armagh City, Banbridge and Craigavon to £158,690 in Lisburn and Castlereagh.
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.
Price Index By Property Type
The index for terrace properties and apartments increased in Q2 2018 compared to the previous quarter while the index for detached and semi-detached properties decreased. Apartments saw the biggest increase (1.6%) while terrace properties increased by 0.3%. Detached houses decreased by 3.7% while semi-detached houses decreased by 0.1% over the quarter.
- Detached – £197,481
- Semi-Detached – £128,559
- Terrace – £92,957
- Apartment – £103,327
In Q2 2018, there were 5,308 verified residential property sales.
- Detached properties sold – 1567
- Semi-Detached properties sold – 1740
- Terrace properties sold – 1557
- Apartment properties sold – 444
Regional House Price Statistics
The index increased over the quarter in three council areas: Causeway Coast and Glens, Derry City and Strabane and Fermanagh and Omagh. The prices for the other 8 council areas showed a decrease. The index for properties in Causeway Coast and Glens saw the largest increase over the quarter of 2.1% while the index for properties in Newry, Mourne and Down saw the largest decrease of 4.8%.
All council areas showed an increase over the 12 months since Q2 2017. Antrim and Newtownabbey reported the smallest increase of 2.4%, while the index for Derry City and Strabane was 8.2% higher than Q2 2017.