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Newry, Mourne and Down house prices held steady in February

House prices remained steady in Newry, Mourne and Down in February, new figures show.

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.
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 Newry, Mourne and Down in February, new figures show.

The lack of movement maintains the longer-term trend, which has seen property prices in the area achieve 9.8% annual growth.

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The average Newry, Mourne and Down house price in February was £171,064, 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 Newry, Mourne and Down underperformed compared to the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Newry, Mourne and Down rose by £15,000 – putting the area third 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 Newry, Mourne and Down compare?

Buyers paid 7.5% more than the average price in Northern Ireland (£159,000) in February for a property in Newry, Mourne and Down. Across Northern Ireland, property prices are higher 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 8% more than in Newry, Mourne and Down. 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

Newry, Mourne and Down: £171,064Northern Ireland:£159,151UK: £276,755

Annual growth to February

Newry, Mourne and Down: +9.8%Northern Ireland: +6.8%UK: +10.9%

Best and worst annual growth in Northern Ireland

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