Northern Ireland property prices increase by 4.9 per cent

By Michelle Rock

Northern Ireland property prices increased by 4.9 per cent in the twelve months up to June, according to new figures from the Office for National Statistics (ONS).

The average property price in Northern Ireland is now at £137,000 according to the ONS figures, which suggest house values have climbed back to early 2012 levels. They of course have a long way to go to reach the peak levels of the property boom, meaning negative still remains a serious problem for many home owners in Northern Ireland. The increase however is positive news, and is further evident that the Northern Ireland property market has stabilised and showing signs of genuine growth.

The greatest property price increases were unsurprisingly in London (19 per cent), which are also responsible for a misleading UK average increase in house vales of 10.2 per cent.

If you are buying, selling or remortgaging a house in Northern Ireland, and want to speak to a property conveyancing solicitor, contact Wilson Nesbitt in Belfast by calling 0800 840 9290.

 

(Image rights reserved by Images_of_Money)