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House prices in Northern Ireland soar

House prices in Northern Ireland have risen over the past year.

The average house price in Northern Ireland has increased by 3.4%. This growth is higher than what any other area of the UK witnessed.

According to Nationwide Building Society, £144,053 is now the average price paid for a house in Northern Ireland.

Northern Ireland goes against the trend as weaker global growth and Brexit uncertainty are blamed for the slower house price growth in the UK overall.

Robert Gardner, Nationwide’s chief economist, said: “The slowdown has centred on business investment – household spending has been more resilient, supported by steady gains in employment and real earnings.”

Property values rose by 0.2% annually. This now takes the average UK house price in September to £215,352.

Wales followed Northern Ireland, which saw a 2.9% annual house price increase. The North West of England witnessed a 2.5% rise in prices.

Below are the average house prices and annual house price changes in the third quarter of this year.

These figures are according to Nationwide Building Society.

  • Northern Ireland, £144,053, 3.4%
  • Wales, £159,355, 2.9%
  • North West, £166,597, 2.5%
  • West Midlands, £194,549, 2.1%
  • North East, £127,570, 2.0%
  • East Anglia, £232,587, 1.7%
  • Scotland, £150,410, 0.8%
  • South West, £246,658, 0.5%
  • East Midlands, £187,212, 0.4%
  • Yorkshire and the Humber, £160,432, 0.1%
  • Outer South East (includes Oxfordshire, Milton, Keynes, Aylesbury, Brighton and Hove), £278,134, minus 0.6%
  • Outer Metropolitan (includes Hertfordshire, Reading, Slough), £358,833, minus 1.5%
  • London, £460,686, minus 1.7%

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