Average house price £143,718

The Northern Ireland Quarterly House Price Index, carried out by UlsterUniversity in partnership with the NI Housing Executive andProgressive Building Society, analyses performance of Northern Ireland’s residentialhousing market between January and March 2016.

The report highlights that for Lisburn the high levels of average price recorded during 2015 have not be sustained in the first quarter of 2016 with the overall average house price reducing to £143,718.

Lower average prices were observed across all property types, with the exception of detached bungalows at £187,000.

Terraced/townhouses in Lisburn, with an average house price of £105,762, whiledropping back from their high fourth quarter figure are 3.7 per cent down in terms of annual change.

Detached houses at £225,629, although having a reduced average price, still command a price level similar to the Northern Ireland figure.

For Northern Ireland as a whole, the research paints a variable picture of the market for the first quarter of 2016.

The overall average Northern Ireland house price of £146,472 for the first quarter of 2016 is lower than might have been anticipated based on the strong growth during 2015, particularly i n the third and fourth quarters. However the survey also reveals a strong sales volume, consistent with previous quarters.

The research indicates that at a regional level, a broadly similar pattern of lower average prices is apparent for the first quarter of 2016.

Professor Stanley McGreal from Ulster University said: “The statistics are reflective of mixed feelings with some estate agents attributing the apparent slowing in first quarter simply to a seasonal fluctuation, others attribute it to buyers’ concerns of economic uncertainty.”