Average house costs £125,320

The Quarterly House Price Index, which is carried out by Ulster University in partnership with NI Housing Executive, analyses performance of the province’s residential housing market between January and March 2015.

The report also highlights that the overall average price in the Ballymena area compared to the first quarter of 2014 has increased by 16.8% reflecting greater confidence in the local market.

In particular strong rates of growth are apparent for terraced and townhouses with an average house price of £86,025, semi-detached houses £110,421 and detached houses £190,765.

Quarterly performance has been strong for the Ballymena and Antrim area, helping to offset the reductions in average price noted for the fourth quarter of 2014.

Northern Ireland wide, the research provides evidence of growth in terms of house price and volume of sales. The overall average house price has increased to £147,409 representing a weighted growth of 5.3% compared to the same period last year.