Average house price in Northern Ireland increased by 2 per cent

By Lauren Burns

The average property price in Northern Ireland at the end of 2017 was £131,989, up 2 per cent on the previous year, but behind the rest of the UK.

House prices in Northern Ireland actually fell in the last quarter of 2017, and the overall 2 per cent increase is the lowest since 2012. In the rest of the UK, property values increased by 3.3 per cent in Wales and 2.6 per cent in Scotland, and London was the weakest performing region for the first time in 13 years. The West Midlands was the strongest performing region of the UK with a 5.2 per cent increase in property prices.

Deposit requirements and a lack of new houses being marketed for sale are considered to be two of the biggest obstacles to property market growth in 2018.

If you are buying a house in Northern Ireland, or selling or remortgaging an existing home, contact one of the property conveyancing solicitors at Wilson Nesbitt for information and advice by clicking here.