Guide to Northern Ireland property prices

By Lauren Burns

The most recent Ulster University House Price Index suggests that house prices in Northern Ireland increased by 9 per cent in the past year - the highest annual rate since 2007/08.

The figures in the report confirm the very different property markets that exist within Northern Ireland with the average house price ranging from £90,451 in Londonderry/Strabane to £198,354 in North Down in the last quarter of 2015. The average property price in the whole of Belfast is £169,817, but splitting the capital up into North, South, West and East, reveals that a property in South Belfast will cost on average £209,927. The overall average of the city is brought down by the low prices in North Belfast were the average house sold for £101,233.

Below is a break down of the average property price by region:

Area Average Property Price in Q4 of 2015
Northern Ireland £154,685
Belfast £169,817
North Down £180,894
Lisburn £198,354
East Antrim £102,826
L'derry/Strabane £90,451
Antrim/Ballymena  £130,192
Coleraine/Limivady/North Coast £147,853
Enniskillen/Fermanagh/South Tyrone £121,440
Mid Ulster £124,095
Mid and South Down £154,114
Craigavon/Armagh £127,870

The performance of different property types across Northern Ireland in the last quarter of 2015 was as follows:

Property Type   Average price Q4 2015       Annual change %   
Terrace/townhouse £102,571 19.3% increase
Semi-detached house £146,162 12.6% increase
Detached house £241,699 1.7% increase
Semi-detached bungalow £100,707 2.7% decrease
Detached bungalow £179,083 13.9% increase
Apartment £117,663 8.0% increase

To view the full Ulster University House Price Index for Q4 of 2015 click here.

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

If you are not familiar with the conveyancing process click here to watch a 5 minute video.