Northern Ireland

Northern Ireland house prices fall for first time in 4 years

A sold sign outside of an out of focus house Image copyright Chris Ison/PA Wire
Image caption Prices haven't fallen between quarters since early 2013

For the first time in four years, there has been a fall in the average residential property price in Northern Ireland.

The value decreased by 0.8% - or about £1,000 - to £124,000 in the first months of 2017.

The official calculation is made quarterly by the Northern Ireland Statistics and Research Agency (NISRA) based on stamp duty data.

The last time prices showed a fall between quarters was in early 2013.

The number of sales is also at its lowest point since 2013.

Apartments suffered the biggest recent slump in value ( -4.5%), compared to semi-detached properties which stayed unchanged.

In terms of council areas, Mid and East Antrim recorded a 3.1% fall and Belfast 2.3%.

However, today's prices overall are still up by 4.3% on this time last year.

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