Mid Ulster house prices held steady in January

House prices remained steady in Mid Ulster in January, new figures show.

The lack of movement maintains the longer-term trend, which has seen property prices in the area achieve 7.2% annual growth.

The average Mid Ulster house price in January was £153,059, Land Registry figures show –largely unchanged from December.

Over the month, the picture was similar to that across Northern Ireland, where prices remained static, and Mid Ulster underperformed compared to the 0.4% rise for the UK as a whole.

Over the last year, the average sale price of property in Mid Ulster rose by £10,000 – putting the area seventh 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 Mid Ulster compare?

Buyers paid 3.8% less than the average price in Northern Ireland (£159,000) in January for a property in Mid Ulster. Across Northern Ireland, property prices are lower than those across the UK, where the average cost £274,000.

The most expensive properties in Northern Ireland were in Lisburn and Castlereagh – £185,000 on average, and 1.2 times as much as more than in Mid Ulster. 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 January

Mid Ulster: £153,059Northern Ireland:£159,151UK: £273,762

Annual growth to January

Mid Ulster: +7.2%Northern Ireland: +6.8%UK: +9.6%

Best and worst annual growth in Northern Ireland

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