Average house price is £151k in area

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

The report highlights that the average house price in the Coleraine, Limavady and the North Coast area is continuing on an upward trend. However it states that performance at a property level is more mixed with average price of apartments dropping to £141,586. The semi-detached housing market is the most consistent sector with both strong annual and quarterly growth and average house prices of £132,004.

Average house prices for detached houses are down over the year at £208,482 but up by 5.3% from the fourth quarter of 2014. Terraced and townhouses have increased by 2.3% over the quarter to £103,132.

The overall average house price across Northern Ireland has increased to £147,409 representing a weighted growth of 5.3% compared to the same period last year. This builds on the recovery that was apparent throughout 2014 which was the first year of growth since 2007.