Latest figures show residential property prices have decreased during the latest quarter in Northern Ireland.
Land & Property Services, assisted by NISRA, have released the House Price Index report for Quarter 1 2023.
It showed between Q4 (October - December) 2022 and Q1 (January - March) 2023, the house price index decreased by 1.8%.
Read more: NI developer explains their move to 'Passivhaus' standards
Between Q1 2022 and Q1 2023, the house price index increased by 5.0%, according to the report.
The average price for a house in Northern Ireland is £172,005. This ranges from £148,548 in Derry City and Strabane to £204,122 in Lisburn and Castlereagh.
4,280 residential properties were sold during Quarter 1 in NI, according to the report.
The Index value for Q1 2023 for NI as a whole is 155.0 and ranges from 142.8 in Ards and North Down to 181.6 in Causeway Coast and Glens.
The report includes the trends in the property markets in each council area across NI.
Antrim and Newtownabbey
Index: 154.2
Quarterly Change: -1.3%
Annual Change: 6.8%
Standardised Price: £177,272
Ards and North Down
Index: 142.8
Quarterly Change: -4.8%
Annual Change: 2.6%
Standardised Price: £191,690
Armagh City, Banbridge and Craigavon
Index: 157.0
Quarterly Change: -0.5%
Annual Change: 6.1%
Standardised Price: £154,738
Belfast
Index: 149.7
Quarterly Change: -1.6%
Annual Change: 3.6%
Standardised Price: £158,219
Causeway Coast and Glens
Index: 181.6
Quarterly Change: 0.7%
Annual Change: 7.9%
Standardised Price: £196,021
Derry City and Strabane
Index: 156.9
Quarterly Change: -3.4%
Annual Change: 1.8%
Standardised Price: £148,548
Fermanagh and Omagh
Index: 165.0
Quarterly Change: -2.7%
Annual Change: 4.7%
Standardised Price: £158,172
Lisburn and Castlereagh
Index: 152.0
Quarterly Change: -1.8%
Annual Change: 8.2%
Standardised Price: £204,122
Mid and East Antrim
Index: 154.5
Quarterly Change: -0.4%
Annual Change: 5.4%
Standardised Price: £159,984
Mid Ulster
Index: 146.2
Quarterly Change: -2.7%
Annual Change: 3.1%
Standardised Price: £163,498
Newry, Mourne and Down
Index: 162.8
Quarterly Change: -1.3%
Annual Change: 4.3%
Standardised Price: £183,203
A graphical representation of the residential property price index for each council can be viewed HERE.
READ NEXT:
- Inside impressive six-bedroom renovated Belfast home on the market
- Inside the family home named 'NI’s Building of the Year'
- Inside £167,000 Co Antrim two-bed townhouse on the market
- Inside 'turnkey tardis' on the market in Belfast for £600,000
For all the latest news, visit the Belfast Live homepage here. To sign up to our FREE newsletters, see here.
