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Northern Ireland House Price Index July - September 2018 (Quarter 3 2018)

Posted on Thursday 24th September 2020

Northern Ireland's average house price has grown by £6,000 over the last year to just over £135,000, according to the latest government report

Main report findings

Percentage growth of 4.8% for June to September this year - compared to the same time a year earlier - was the fastest annual growth since the start of 2017.

And the number of new homes being built is also at its highest for around 11 years.

The rise in the average house price over the summer months was more than £2,000, or 2.3%, on springtime prices.

The image above shows the standardised price by local government district Q3 2018

The house price index, which is compiled from stamp duty returns by government body Land and Property Services, said house prices were highest in Lisburn and Castlereagh, where the average was £161,215.

The lowest prices were recorded in Armagh City, Banbridge and Craigavon at £116,368.

The index also shows growth of around 21.7% in the average price since early 2015.

However, prices still remain around 40% below the £224,670 peak of 2007.

And the average house price is nearly five times the level of average earnings, the index also said.

There were 5,722 homes sold during the three months covered in the report, though that figure is expected to grow after late returns are counted.

A separate report also recorded a 17% jump in the number of new homes completed by builders, while the number of new homes started was up 12%.

To listen to Samuel Dickey RICS interview on this please click here (Please forward to 30mins)

To read the full report please click here

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