House prices in Lisburn and Castlereagh rise by 2.0% over past 12 months

The average house price across Lisburn and Castlereagh now sits at £281,042.

On the sales front, across the council area there were 679 reported sales throughout Q3, which is a 0.1% change when compared to the same period last year.

Looking at the picture across Northern Ireland, almost £9,000 has been added to the average NI house price during the last 12 months.

The average property price is now £240,988 which is an increase of 3.6% over the past year.

Despite a slight easing in sales activity at a Northern Ireland level, buyer demand remains strong, with properties taking an average of 45 days to reach sale agreed.

Jordan Buchanan, Chief Executive at PropertyPal, commented: "Northern Ireland remains a bright spot in a weakening UK housing market.

"Local prices are up 3.6% over the past year, adding around £9,000 to the average home value.

"Sales activity has eased slightly, with 6,600 sales agreed over the last three months compared to 7,000 a year ago, but demand indicators remain strong: homes are typically finding a buyer in 45 days, and enquiries per listing are 4% above the five-year average.

“However, economic uncertainty has escalated across the UK in recent months.

“For now, Northern Ireland is well placed to continue its recent run of sustainable growth in prices and sales. But the macroeconomic headwinds are building and are expected to weigh on the market later this year."