NI property sales hit 6yr high in Q4 of last year

By Michelle Rock

The number of property purchases in the October to December period of 2013 was the highest quarterly figure since 2007 according to latest figures from the Northern Ireland Residential Property Price Index.

The figures also show that property prices increased by 4 per cent over the year, but that those gains were in the second and third quarters of 2013, with no movement in house values in the fourth quarter. The average property price in Northern Ireland is now slightly under £99,000, the lowest in the whole of the UK.

The figures also reveal the importance of house type and region when considering the fortunes of the Northern Ireland property market in the last 3 months of 2013.

Property type

  • Apartment prices increased by 6 per cent - Avg price - £82,081
  • Semi-detached properties were unchanged - Avg price - £98,643
  • Terraced properties were unchanged - Avg price - £66,034
  • Detached property prices decreased by 1 per cent - Avg price -£154,609

Region

  • Greater Belfast area experienced 1 per cent property price increases
  • Properties in East of the country remained unchanged
  • Properties in North, South and West fell by 1 per cent

Despite some areas experiencing a slight decrease in property values in the last quarter of 2013, they all increased over the year, with growth between 2 to 6 per cent across the different regions.

If you are buying, selling or remortgaging a property in Northern Ireland, and require a conveyancing solicitor in Belfast to handle the legal process for you, contact Wilson Nesbitt in Belfast by calling 0800 840 9290.

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