NI house prices increase by four per cent in 12 months to £124,000

Jun 28, 2017
NI house prices increase by four per cent in 12 months to £124,000

HOUSE PRICES in the north have increased over the past year to a £124,000 average according to the latest property figures. Northern Ireland property values increased by £1,000 (4.3 per cent) in the 12 months to April 2017, but the average price remains unchanged since January according to the data released by the Office for National Statistics (ONS) and the Land Registry.

The growth seen in the Northern Ireland house market mirrors that of the rest of the UK, which recorded a 5.6 per increase overall in the year to April, up from 4.5 per cent in the year to March. Across the UK, the average house price stood at £220,000 in April, following a 1.6 per cent month-on-month increase. The main contribution to the increase in UK house prices came from England, where prices rose by 5.7 per cent, with the average now £237,000.

Scotland also saw a major jump with the average house price up 6.8 per cent to £146,000. Northern Ireland remains the cheapest region in the UK to buy a house, with prices in Wales up 4.2 per cent over the last 12 months to £148,000 in April.

London property values increased by 4.7 per cent in the 12 months to April, taking the average price to £482,779, with the highest annual growth of 8.1 per cent recorded in the east of England. The lowest annual growth was in the north east, where prices increased by just 0.6 per cent over the year The Irish News (14th June 2017)