Business

House prices in Northern Ireland rise 6 per cent in year

<span style="color: rgb(51, 51, 51); font-family: sans-serif, Arial, Verdana, 'Trebuchet MS';  line-height: 20.7999992370605px;">The greatest increase in house value was in the Mid-Ulster council area.</span>
The greatest increase in house value was in the Mid-Ulster council area. The greatest increase in house value was in the Mid-Ulster council area. (Sean Locke)

HOUSE prices in the north increased by six per cent in the past year.The definitive Northern Ireland Residential Property Price Index put the cost of the typical home over the three months to June at £113,245.

The index, which takes account of every house sale using data form Land & Property Services, is considered the most reliable barometer on the state of the housing market.

Prices were up 3 per cent on the first quarter of the year.

The Northern Ireland Statistics & Research Agency analysed the sales of 4,600 residential properties over the period.

The cost of a new home was lowest in Derry and Strabane at £93,806 and highest in North Down and Ards at £135,988 typically.

The greatest increase in house value was in the Mid-Ulster council area.

Finance Minister Arlene Foster said: "Although down slightly on the same period last year, this represents the second highest quarter two for completions since 2007. 

"I believe there is continued confidence in the housing market, which is encouraging for the Northern Ireland economy."

PRICES IN YOUR AREA

Antrim and Newtownabbey: £117,599; annual change: 6%

Armagh, Banbridge and Craigavon: £98,814; annual change: 7%

Belfast: £107,442: annual change: 6%

Causeway Coast and Glens: £113,679; annual change: 5%

Derry and Strabane: £93,806; annual change: 7%

Fermanagh and Omagh: £100,422; annual change: 1%

Lisburn and Castlereagh: £135,977; annual change: 4%

Mid and East Antrim: £107,325; annual change: 4%

Mid-Ulster: £114,132; annual change: 10%

Newry, Mourne and Down: £115,833; Annual Change: 5%

North Down and Ards: £135,988; Annual Change: 5%

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