House prices rise in Mid-Ulster as market is buoyant across the west

by Gillian McDade

The average price now stands at almost £143,000 – that’s compared to almost £136,000 for the first four months of this year.

House prices have also risen significantly across Fermanagh and South Tyrone.

The Northern Ireland average is just shy of £149,000.

It’s dropped slightly since the start of the year.

Ulster University’s research is produced in partnership with the Northern Ireland Housing Executive and Progressive Building Society.

The research showed a number of factors could be behind this. Uncertainty arising from Brexit, the outcomes of the UK general election and the present lack of agreement on the formation of the Northern Ireland Executive, are all recorded as contributing factors.

Lead researcher, Professor Stanley McGreal from Ulster University says transaction levels are high suggesting a strong market in the second quarter of 2017.

“However this optimism is not reflected in average prices which are generally more subdued,” he adds.

Michael Boyd, Progressive Deputy Chief Executive and Finance Director says there is no doubt that wider economic and political factors are having an impact including uncertainty following the triggering of Article 50.