FIRST-time buyers have both feet back on the north's property ladder.
Two-thirds (67 per cent) of sales in the first three months of this year were completed at or below the value of £150,000.
That compares with just 18 per cent of completions in that price range 10 years ago before the property bubble burst.
And although the overall average house price in the north fell by 6.5 per cent to £146,472 in the first quarter of this year, the market remains in recovery mode, with funding now being made available from most lenders.
The figures are contained in the latest Ulster University quarterly house price index, which has been running since 1986 and is regarded by banks, government, the public sector and developers as the most authoritative barometer of the north's housing market.
It reveals that the so-called 'BT-niners' in south Belfast maintain their status as living in the highest-priced sub-market in Northern Ireland (average price £205,440).
Detached houses here average £369,250, while a terraced house will set you back an average £163,757.
By contrast, properties in the Derry/Strabane averaged just £95,964 overall, down 6.7 per cent over the last year but up on the final quarter of last year.
Broken down by property types, the averages here were £147,962 for a detached house, £102,156 for a semi-detached and just £64,226 for a terraced or town-house.
Produced in partnership with the Northern Ireland Housing Executive and Progressive Building Society, the Ulster University research reveals a strong sales volume, consistent with previous quarters.
But it says the overall average price of £146,472 in January, February and March is slightly lower than might have been anticipated based on the strong growth during 2015, particularly in the third and fourth quarters.
Lead researcher Professor Stanley McGreal from Ulster University said: “The statistics are reflective of mixed feelings by the sector across Northern Ireland with some estate agents attributing the apparent slowing in first quarter simply to a seasonal fluctuation, others attribute it to house buyers’ concerns of economic uncertainty.”
Joe Frey, head of research at the NI Housing Executive, said: “A combination of a higher than expected increase in prices in the previous quarter and uncertainty surrounding the EU referendum probably explain the slight downturn in the market.
"But given that transaction levels remain high and there is little sign of a significant affordability issue outside Belfast, the indications are that the market will continue its gradual recovery.”
Progressive's deputy chief executive Michael Boyd said the prolonged Brexit debate, EU referendum, Assembly elections and stamp duty charges had contributed to the cooling of prices, adding: “While lack of supply is still an issue, houses in Northern Ireland remain very affordable, particularly when compared to the rest of the UK.
He said: "The mortgage market also remains buoyant with a significant increase in the first quarter, with strong market competition supporting low interest rates which also delivers great value for money within the Northern Ireland market.
First quarter average house prices in Northern Ireland by location:
Location Average Price
South Belfast £205,440
North Down £178,114
East Belfast £172,704
Belfast (overall) £161,526
Mid and South Down £150,475
Coleraine/Limavady/North Coast £147,108
Northern Ireland (overall) £146,472
Lisburn £143,781
Enniskillen/Fermanagh/S.Tyrone £138,921
Mid-Ulster £133,624
Antrim Ballymena £127,010
East Antrim £123,240
West Belfast £116,254
Craigavon/Armagh £115,866
North Belfast £111,523
Derry/Strabane £95,964
House type Average Q1 price Quarterly change
Detached house £226,025 -2.9 per cent
Detached bungalow £162,182 -9.4 per cent
Semi-detached house £133,692 -8.5 per cent
Apartment £115,707 -1.7 per cent
Semi-detached bungalow £105,099 +4.4 per cent
Terrace/townhouse £98,068 -4.4 per cent