Northern Ireland

NI housing market: ONS charts rise of 14% to February

Houses
Image caption The ONS index suggests the price of a typical house in Northern Ireland is £152,000

House prices in Northern Ireland rose by more than 14% in the year to February, according to the Office for National Statistics (ONS).

That was twice the UK average rise of 7% and the biggest rise since November 2007.

The ONS index suggests the price of a typical house in Northern Ireland is £152,000, comparable to the level in mid 2006.

The index is based on data from mortgage completions.

Northern Ireland experienced a deep and prolonged house price crash from which it is just recovering.

The definitive house price index for Northern Ireland is produced by Nisra, the local government statistics agency.

Its most recent edition, published in February, showed that prices rose by 8% between the end of 2013 and the end of 2014.

On its measurement, prices are still lower than they were at the start of 2005.

More on this story