First time buyers continue to drive NI property market

The majority of the activity on the Northern Ireland property market in the first quarter of 2017 came from first time buyers, and the latest Quarterly House Price Index from Ulster University suggests that 80 per cent of sale transactions involved properties priced at £150,000 or less.

The report shows a year-on-year increase in property prices in Northern Ireland of 5.9 per cent, though the lift from the previous quarter was just 0.3 per cent. The overall average house price across the country is currently £153,449 with some variations across house types and the different regions in Northern Ireland as outlined below.

 

House type

Average price

Terrace/townhouse

£100,727

Semi-detached house

£143,663

Detached house

£239,857

Semi-detached bungalow

£112,195

Detached bungalow

£178,221

Apartment

£117,835

 

Region

Average property price

Northern Ireland

£153,448

Belfast

£160,317

North Down

£185,952

Lisburn

£171,516

East Antrim

£132,705

L’derry/Strabane

£126,864

Antrim/Ballymena

£137,595

Coleraine/Limavady/North Coast

£141,173

Enniskillen/Fermanagh/South Tyrone

£113,401

Mid Ulster

£128,982

Mid and South Down

£173,183

Craigavon/Armagh

£141,743

 

If you are buying or selling a house in Northern Ireland and require a property conveyancing solicitor to handle the legal process for you, contact Wilson Nesbitt in Belfast or Bangor by clicking here.