Northern Ireland house prices: Slight rise at the end of 2019

The average price of a house in Northern Ireland at the end of 2019 was £140,190

Northern Ireland house prices rose slightly in the last quarter of 2019, with an average price of £140,190.

There were 6,021 residential properties sold in Northern Ireland during the period.

Prices rose by 0.2% on the previous quarter and 2.5% on the last three months of 2018.

Average house prices ranged from £124,208 in Armagh City, Banbridge and Craigavon to £165,011 in Lisburn and Castlereagh.

The House Price Index report was released by the Land and Property Service.

The biggest rise in prices was recorded in the Derry City and Strabane council area (5.3%).

It report also showed that house prices are up by more than a quarter (26.4%) on the first quarter of 2015.

Northern Ireland experienced a huge boom and bust cycle which saw prices double between 2005 and 2007, with the house price to earnings ratio peaking at more than nine.

Prices then collapsed and continued falling until 2013 when a gradual recovery began.