Derry City and Strabane house prices held steady in February

EMBARGOED TO 00001 TUESDAY OCTOBER 26 File photo dated 14/10/14 of estate agents boards. The housing market is set to record its highest level of sales this year since 2007, according to a property website. Issue date: Tuesday October 26, 2021.

House prices remained steady in Derry City and Strabane in February, new figures show.

The lack of movement maintains the longer-term trend, which has seen property prices in the area achieve 8% annual growth.

The average Derry City and Strabane house price in February was £143,826, Land Registry figures show – largely unchanged from January.

Over the month, the picture was similar to that across Northern Ireland, where prices remained static, and Derry City and Strabane underperformed compared to the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Derry City and Strabane rose by £11,000 – putting the area fifth among Northern Ireland’s 11 local authorities with price data for annual growth.

The best annual growth in the region was in Causeway Coast and Glens, where property prices increased on average by 10.5%, to £176,000. At the other end of the scale, properties in Belfast gained just 3.6% in value, giving an average price of £148,000.

How do property prices in Derry City and Strabane compare?

Buyers paid 9.6% less than the average price in Northern Ireland (£159,000) in February for a property in Derry City and Strabane. Across Northern Ireland, property prices are lower than those across the UK, where the average cost £277,000.

The most expensive properties in Northern Ireland were in Lisburn and Castlereagh – £185,000 on average, and 1.3 times as much as more than in Derry City and Strabane. Lisburn and Castlereagh properties cost 1.3 times as much as homes in Armagh City, Banbridge and Craigavon (£139,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in February

Derry City and Strabane: £143,826Northern Ireland:£159,151UK: £276,755

Annual growth to February

Derry City and Strabane: +8%Northern Ireland: +6.8%UK: +10.9%

Best and worst annual growth in Northern Ireland

Causeway Coast and Glens: +10.5%Belfast: +3.6%