Northern Ireland residential property prices are on the rise, according to the latest House Price Index report from Land & Property Services, assisted by NI Statistics & Research Agency for Quarter 2 2017.
Measuring the change in the price of residential property sold in NI, the index uses stamp duty information recorded by HMRC to conclude its findings.
In summary, Quarter 2 2017 can be summarised as follows:
• Between Quarter 1 (January – March) 2017 and Quarter 2 (April – June) 2017 the increase in House Price Index was by 3.1%
• Year-on-Year, between Quarter 2 2016 and Quarter 2 2017 the House Price Index increased by 4.4%
• There were 5,106 residential properties sold during Q2 2017 (this will be revised upwards next quarter due to late returns)
• The house price index is now 16% higher than Q1 2015 (the reference period)
• All district council areas showed an increase over the quarter, which demonstrates a healthy geographical spread. The breakdown is demonstrated below:
Q2 2017 House Price Index and Standardised Price in each council area
Antrim and Newtownabbey House Price Index: 116.9
Quarterly Change: 3.9%
Annual Change: 4.9%
Std Price: £134,390
Ards and North Down House Price Index: 110.0
Quarterly Change: 3.0%
Annual Change: 3.7%
Std Price: £147,639
Armagh City, Banbridge and Craigavon House Price Index: 117.1
Quarterly Change: 1.4%
Annual Change: 3.6%
Std Price: £115,404
Belfast House Price Index: 113.9
Quarterly Change: 3.0%
Annual Change: 1.0%
Std Price: £120,351
Causeway Coast and Glens House Price Index: 122.7
Quarterly Change: 3.2%
Annual Change: 7.9%
Std Price: £132,466
Derry City and Strabane House Price Index: 116.1
Quarterly Change: 0.6%
Annual Change: 7.1%
Std Price: £109,939
Fermanagh and Omagh House Price Index: 123.6
Quarterly Change: 5.6%
Annual Change: 7.7%
Std Price: £118,451
Lisburn and Castlereagh House Price Index: 115.2
Quarterly Change: 4.7%
Annual Change: 3.9%
Std Price: £154,704
Mid and East Antrim House Price Index: 115.8
Quarterly Change: 2.9%
Annual Change: 3.0%
Std Price: £119,883
Mid Ulster House Price Index: 116.1
Quarterly Change: 4.9%
Annual Change: 9.1%
Std Price: £129,888
Newry, Mourne and Down House Price Index: 118.6
Quarterly Change: 2.7%
Annual Change: 7.3%
Std Price: £133,394
A graphical representation of the residential property price index for each council can be viewed in the Detailed Statistics at: https://www.finance-ni.gov.uk/articles/northern-ireland-house-price-index or by clicking here
