Northern Ireland house prices increase again

By Christine Farrell

Property prices in Northern Ireland increased for the second consecutive quarter during the months of July to September according to the latest NI Residential Property Price Index.

There was a 2 per cent jump in house values from the second to the third quarter, and a 12 per cent increase in transaction levels compared to the same quarter in 2012. The average house price in Northern Ireland now stands at just under £99,000, though that figure is slightly increased by the property values in parts of Belfast where houses are selling on average for £110,000. Outside of Belfast the average property in the remaining areas of Northern Ireland is likely to cost you about £95,000.

As well as the regional variation, the increase in property prices also differs between house types. Detached houses have been increasing in value since the first quarter of the year and are up 3 per cent compared to last year. While semi-detached and terraces have seen prices increasing since April of this year, they are still slightly down on their value of twelve months ago.

The report goes along way to confirming that the Northern Ireland property market has officially recovered, and will no doubt encourage even more first time buyers and home movers that now is a good time to buy a property.

If you require a conveyancing solicitor in Northern Ireland to act for you in a house purchase, sale or remortgage, contact Wilson Nesbitt in Belfast or Bangor by calling 0800 840 9290.

Or submit your details online for a callback by clicking here.

 

 

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