Northern Ireland

Northern Ireland house prices 'return to growth'

Houses
Image caption The latest data does not reflect the Brexit vote nor a reduction in interest rates by the Bank of England

House prices in Northern Ireland are rising again, according to statistics released by the Department of Finance.

But the number of sales have fallen to their lowest in three years.

The number of transactions between April and June was 4,075 - down 28% on the previous quarter.

The latest data does not reflect the Brexit vote on 23 June, nor the recent decision by the Bank of England to reduce interest rates.

Last week, an Ulster University report on the local housing market said "contradictory" economic outlooks issued during the EU referendum campaigns "will have exacerbated market uncertainty".

Prices rose by 3.8%, or about £5,000, between the first and second quarters of 2016.

The data puts the price of a standard house price in Northern Ireland at just over £123,000.

The strongest price increases were in Belfast.

But prices fell in three council areas - Causeway Coast and Glens; Fermanagh and Omagh; and Mid-Ulster.

Related Topics

More on this story