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Northern Ireland housing market continues with annual growth

Thursday 15 August 2019

House prices in Northern Ireland are showing a continued annual growth of 3.5% compared to the same period last year as according to the recent report released by the Northern Ireland Statistics and Research Agency.

House prices in Northern Ireland are showing continued annual growth of 3.5% compared to the same period last year as according to the recent report released by the Northern Ireland Statistics and Research Agency.

The average house price for a property in Northern Ireland between April and June was £136,767, a 0.8% increase on the price for the first quarter of 2019.

All 11 Local Government Districts are showing increases in growth compared to the same period in 2018 and with a 9% annual growth, Newry, Mourne and Down district has shown the greatest performance with the average price now £146,350.

Lisburn and Castlereagh is still the best performing District, with an average price of £163,466 and is closely followed by the continued growth of Ards and North Down.

A downside for estate agents on these positive figures is the number of registered sales for the period, currently, 5210 (although it will increase once all the late registrations have been accounted for) compared to a total of 6,189 for the same period 2018.

Mary-Louise Press, NAEA Propertymark Regional Executive for Northern Ireland and partner at leading Downpatrick estate agents Alexander, Reid & Frazer positively reflects:

“We have certainly noticed the house prices increasing over the past year as demand outstrips supply. With the increase in prices and the level of interest we are seeing from potential buyers we are encouraged more sellers will be attracted to the market-leading to continued growth for the remainder of the year” 

Download the full report