Drop in house prices

FIGURES released week have shown that the overall average house price in Ballymena is £170,739, which indicates a small decline of 3.7% over the year.
By The Newsroom
Published 4th Feb 2010, 12:46 BST
Updated 5th Feb 2010, 10:04 BST

The latest University of Ulster Quarterly House Price Index, produced in partnership with Bank of Ireland and the Northern Ireland Housing Executive, said despite this some limited growth was apparent in some types, the picture was variable with the average price of semi-detached homes up by 5.3% but that for terraced/townhouses down by 34%.

The report said the overall rate at which house prices were falling had dropped from 35% at the start of 2009 to just below 7% at the end of the year.

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The authors of the latest report - Prof Alastair Adair,said: “This latest survey indicates an improving housing market. Although overall average prices are still down, the rate of price decline has slowed significantly, with prospects for a modest increase in price levels during 2010.”

In Belfast the average price of housing at 164,476 was down compared to the average of 178,399 in the corresponding quarter of 2008.

And in East Antrim the overall average price fell by 7.3% over the year to 137,088, again showing an improved situation.

Related topics:BallymenaHouse Price IndexBelfastEast Antrim