'Belfast only winner of high-end NI property market'

By Christine Farrell

It's that time of the month again when a flurry of reports emerge in respect of the property market in Northern Ireland, and while some fairly large differences appear, they are all in agreement that the highs and lows of the market vary from one region to the other.

Where the reports most diverge is on the average property price in Northern Ireland, with the NI Residential Property Price Index saying it stood at £99,000 in February. The Nationwide Building Society considers that the average house price is currently at £115,000 and other property experts say it could be as high as £135,000.

Average prices vary greatly between the different property types, with detached houses at the higher end and terraced houses at the bottom. A further degree of variation applies from one region to the other, with Raymond Mulligan, director of Johnston Campbell, saying that "at the high-end of the market Belfast is the only winner ". He considers that in the other regions of Northern Ireland activity on the property market is "patchy".

The most recent NI Residential Property Price Index supports that view, only reporting property price increases in Belfast and Outer Belfast in the last quarter of 2013.

If you are buying, selling or remortgaging a property in Northern Ireland and require a conveyancing solicitor to handle the legal process for you, contact Wilson Nesbitt in Belfast by calling 0800 840 9290.