THE latest house price survey has confirmed prices continued to rise over the past year - up 5.3 per cent over the first three months of the year compared to the same period in 2014.
The Quarterly Price Index by Ulster University and the Northern Ireland Housing Executive said house price and sales volume grew.
It followed a report by the north's statistics agency which pointed to a 6 per cent rise in prices over the year with the cost of a new home actually falling in the first quarter of 2015.
The university's research put the overall average house price at £147,409.
It said it meant homes in Northern Ireland were "highly affordable" with two-thirds of houses sold at or below £150,000.
It found all property types to have increased in sales price over the year with semi-detached houses dominating having 34 per cent market share.
Lead researcher, Professor Stanley McGreal from Ulster University said: “Ulster University’s Built Environment Research Institute has been driving research into Northern Ireland’s housing market for over 30 years and provides an indication of the state of the economy and buyer confidence. The most recent findings signal an improvement in the market with more houses being sold at higher prices.
“At a regional level, the overall picture is of price growth with average prices in north Down and Lisburn the highest throughout the region.”
Joe Frey, the Housing Executive's Head of Research added: "Ulster University's House Price Index provides further confirmation that Northern Ireland's housing market has been undergoing a steady recovery over the past two years. Despite this, there has been no significant deterioration in affordability as incomes have started to rise and mortgages interest rates have remained competitive.”
