Average house price in Northern Ireland now £175k

The House Price Index report released today (Wednesday) by Land & Property Services, assisted by the Northern Ireland Statistics & Research Agency, includes trends in the province’s 11 council areas.

It show for the fourth quarter (Q4) of 2022, prices range from £153,244 in Derry City and Strabane to £208,333 in Lisburn and Castlereagh.

The Index measures change in the price of residential property sold in Northern Ireland. Results for the most recent quarter (October - December 2022), which are provisional, also show that:

Between Q3 (July – September) and Q4 (October – December) the House Price Index decreased by 0.5%;

Between Q4 2021 and Q4 2022 the house price index increased by 10.2%;

A total of 6,142 residential properties were sold during Q4 2022 (This number will be revised upwards in the next publication due to late returns and the entry of new properties into the NI Valuation List);

The House Price Index is now 58.0% higher than Q1 2015.

The Index value for Q4 2022 for Northern Ireland as a whole is 158.0 and ranges from 149.9 in Ards and North Down to 180.4 in Causeway Coast and Glens.

House Price Index and standardised price in each council area for Q4 2022 are as follows:

Antrim and Newtownabbey – Index, 156.1; quarterly change, -0.4%; annual change, 10.2%; standardised price, £179,434.

Ards and North Down – Index, 149.9; quarterly change, 1.3%; annual change, 12.0%; standardised price, £201,171.

Armagh City, Banbridge and Craigavon – Index, 158.4; quarterly change, -1.1%; annual change, 11.4%; standardised price, £156,170.

Belfast – Index, 152.1; quarterly change, -1.9%; annual change, 8.5%; standardised price, £160,798.

Causeway Coast and Glens – Index; 180.4; quarterly change, -1.1%; annual change, 10.6%; standardised price; £194,762.

Derry City and Strabane – Index, 161.9; quarterly change, -1.5%; annual change, 6.5%; standardised price, £153,244.

Fermanagh and Omagh – Index, 169.4; quarterly change, 1.5%; annual change, 9.4%; standardised price, £162,308.

Lisburn and Castlereagh – Index, 155.2; quarterly change, 1.0%; annual change,12.6%; standardised price, £208,333.

Mid and East Antrim – Index, 155.2; quarterly change, 1.0%; annual change, 9.3%; standardised price, £160,680.

Mid Ulster – Index, 150.7; quarterly change, -0.4%; annual change, 11.0%; standardised price, £168,595.

Newry, Mourne and Down – Index, 165.3; quarterly change, -2.7%; annual change, 9.1%; standardised price, £186,000.

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*A graphical representation of the residential property price index for each council can be viewed in the Detailed Statistics at: https://www.finance-ni.gov.uk/articles/northern-ireland-house-price-index