NI house price figures show mixed picture

Prices have been gradually and consistently increasing since 2013 and are now back at a level last seen in 2010

House prices in Northern Ireland rose at an annual rate of 3.5% in the first quarter of 2019.

However, when compared to the final quarter of 2018 prices were down by 1%, the first quarterly fall in two years.

The average price of a house in Northern Ireland is now £134,811.

The figures are from the Northern Ireland Residential Property Price Index, which analyses almost all sales, including cash deals.

Prices in Causeway Coast and Glens have shown the sharpest increase, up by nearly 10% year-on-year and by 2.3% on a quarterly basis.

Mid Ulster showed the biggest quarterly fall, down by 2.5%.

On an annual basis, prices in both Mid Ulster and Newry and Mourne were down by 0.3%.

Across house types the prices of detached, semi-detached and terraces all fell slightly on a quarterly basis while apartment prices were flat.

All house types saw prices increase on an annual basis.

More than 4,000 houses were sold in the first three months of this year, although that number will be revised up when late sales are included.

Northern Ireland experienced a huge boom and bust cycle which saw prices double between 2005 and 2007 before collapsing.

Prices have been gradually and consistently increasing since 2013 and are now back at a level last seen in 2010.