Northern Ireland

NI house prices on 'gentle upward trend' in 2018

Houses Image copyright Peter Horrox
Image caption The standardised average house price in the quarter was just over £130,000 in the first quarter of 2018

House prices in Northern Ireland continued on a gentle upward trend in the first quarter of 2018.

Prices were 4.2% higher than in the same period in 2017.

They were also 0.3% higher when compared to the previous quarter.

The standardised average house price in the quarter was just over £130,000.

The figures are from the NI Residential Property Price Index, which analyses almost all sales, including cash deals.

All council districts saw prices rise year-on-year, ranging from 1% in Armagh, Banbridge and Craigavon to 7.8% in Mid Ulster.

NISRA, the official statistics agency, said the house price index is now 17.2% higher than in the first quarter of 2015, and 16.2% higher than in the first quarter of 2005.

However, prices are still far below what they were in the bubble years of 2007 and 2008.

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