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Northern Ireland House Price Index - House prices up 3.5% in Quarter 2 of 2019.

Posted on Tuesday 2nd June 2020

The overall index showed an increase of 0.8% between the first and second quarter of 2019. Between Q2 2018 and Q2 2019 the House Price Index increased by 3.5%. The NI HPI currently stands at 123.3 in the first quarter of 2019. The index is now 23.3% higher than in the first quarter of 2015, and 22.2% higher than Q1 2005.

New dwellings showed a decrease of 0.9% over the quarter while existing resold dwellings showed an increase of 1.2%. The annual increase in the price of new dwellings was 2.1% while the price of existing resold dwellings increased by 3.8% since Q2 2018.

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In the latest RICS and Ulster Bank Residential Market Survey, RICS Spokesman, Samuel Dickey said:

“Whilst, it appears that there continues to be variation in the market here across property types and in different locations, overall the data is more positive in Northern Ireland than in other parts of the UK. This is certainly the case regarding the price index. Evidence of demand levels being above supply levels in some areas of Northern Ireland is clearly a factor in this.”

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